Security is at the heart of what we do at Streamflow which is why we’re extremely excited to announce the release of our Multi-signature Wallet app. Teams can now create a Multi-signature Wallet to store funds and initiate payment and vesting streams triggered by proposals.
Multi-signature Wallets are essential to Web3 teams because they spread the authorization process for transactions among multiple people — decreasing the chances of hacks and exploits. To distribute funds from a Multisig Wallet, a member must create a proposal to send the funds, and other members must use their private keys/signatures to vote and approve the proposal. That’s why we’ve decided to build a Multisig app on top of our token distribution platform and provide users a medium to securely store and send their team’s funds in one place.
In addition to added security, Multi-signature Wallets allow you to democratize your organization’s decision-making processes. The user that creates the Multisig Wallet can add members and set the required amount of member votes it takes to pass a proposal.
We’ve integrated with Squads protocol to build our Multisig app. Squads is one of the most reliable Multisig solutions, receiving audits from OtterSec and Bramah systems.
This integration lends the stability and security of Squads to our Multisig app. Furthermore, our cross-compatibility with Squads allows existing Squads users to send vesting and payment streams from the Streamflow dashboard. On the other hand, users can create a Multisig Wallet in Streamflow and access it in Squads’ app to take advantage of their stellar features — Token swaps, and Magic Eden, Bonfida, and Dialect integrations.
During our beta event, our app underwent extensive testing and the feedback was overwhelmingly positive. As a result of our beta event, we added the following features to our Multisig:
- General design enhancements to the UX and UI.
- Token names and their corresponding amounts are visible in the Multisig dashboard.
- Direct deposit is available, allowing users to deposit funds directly to their Multisig wallet, limiting transactions outside the app.
In addition to the feedback we got from our outstanding community, we also received some insight from our industry partners acting as “Multisig Pioneers” and testing the beta app on an organizational level. We’d like to give a shoutout to Heavenland and Darley GO for being Multisig pioneers! All the feedback and testing during our beta period led to the battle-tested product we have today.
We’re looking forward to further innovating our Multisig Wallet app to meet the ever-changing needs of web3 teams and solve matters of storing and sending funds efficiently and securely. If you’d like to know how to set up a Multi-signature Wallet, read our tutorial.
Streamflow is a token distribution platform that enables organizations (and individuals) to distribute funds safely and securely. Streamflow is the market leader on Solana for token vesting services.