Setting Up a Multi-Signature Wallet for Team Treasury

Detailed Instructions

First, navigate to the official Gnosis Safe web app at https://app.safe.global. Ensure you are on the correct website to avoid phishing scams. Connect your personal wallet, such as MetaMask or WalletConnect, which will serve as your initial signer and pay for the network gas fees for deployment. Once connected, click the 'Create new Safe' button. You will be prompted to name your Safe, for example, 'Team Treasury Q4 2023'. This name is for your reference only and is stored locally. You must then select the blockchain network where the Safe will be deployed, such as Ethereum Mainnet, Polygon, or Arbitrum. The choice impacts transaction costs and speed.

• Sub-step 1: Visit https://app.safe.global and connect your personal Web3 wallet.
• Sub-step 2: Click 'Create new Safe' and enter a descriptive name for your team's multi-signature wallet.
• Sub-step 3: Carefully select the blockchain network from the dropdown menu, considering factors like gas fees and required token standards.

Tip: Use a bookmark for the official site. The deploying wallet needs enough native currency (e.g., ETH, MATIC) to cover the one-time creation fee, which can be significant on Ethereum Mainnet.

Detailed Instructions

This is the core configuration step for multi-signature security. In the 'Owners' section, you will add the Ethereum wallet addresses of all team members who should have signing authority. It is critical to copy and paste each address exactly; a single wrong character will render the address unusable. A common structure is to add the CEO, CFO, and a lead developer. After adding owners, you must set the confirmation threshold. This is the number of distinct owner signatures required to approve and execute any transaction from the Safe. A typical setup for a 3-owner Safe is a threshold of 2, meaning no single person can act alone, but consensus doesn't require everyone.

• Sub-step 1: In the 'Add owner' field, paste the full 0x... address of the first team member. Repeat for all required owners.
• Sub-step 2: Review the list of owners for accuracy. You cannot change this easily after deployment without a transaction.
• Sub-step 3: Set the 'Threshold' to a number greater than 1 but less than or equal to the total number of owners (e.g., 2 out of 3).

Tip: Use threshold = ceil(n/2 + 1) for a balanced security model, where 'n' is the number of owners. Always test addresses in a chat before adding them.

Detailed Instructions

Carefully review the final Safe configuration summary, which displays the name, network, owner addresses, and threshold. Once confirmed, you will proceed to the deployment transaction. Your connected wallet must hold sufficient native blockchain tokens (e.g., ETH) to pay the gas fee. The cost varies by network and congestion. After initiating the deployment, do not close the browser tab until the transaction is confirmed on the blockchain. You will receive a unique Safe Address upon successful deployment. This address is your team's new treasury wallet. Immediately send a small amount of funds to this address to test reception. You can find the address on the Safe's main dashboard.

• Sub-step 1: On the review screen, verify every detail, especially owner addresses and the threshold.
• Sub-step 2: Click 'Create' and approve the deployment transaction in your connected wallet (e.g., MetaMask).
• Sub-step 3: Wait for on-chain confirmation and note the new Safe Address, e.g., 0x742d35Cc6634C0532925a3b844Bc9e90a6b5a9b8.

Tip: Bookmark your Safe's unique URL (e.g., https://app.safe.global/eth:0x742d35Cc6634C0532925a3b844Bc9e90a6b5a9b8/home) for easy future access. Consider deploying on a testnet first for practice.

Detailed Instructions

With the Safe deployed, enhance its capabilities by adding Safe Modules. Go to 'Settings' > 'Modules' to enable features like the Zodiac Reality Module for on-chain automation or a Recovery Module. A common first module is a Spending Limit module, which allows specific addresses to withdraw up to a set amount without multi-sig approval for each transaction. Next, execute a test transaction to ensure everything works. Navigate to the 'Assets' tab, click 'New transaction', and select 'Send funds'. Enter a small amount and the destination address. This creates a transaction that must be signed by other owners to meet the threshold. They will need to connect their wallets and sign via the 'Transactions' > 'Queue' tab.

• Sub-step 1: Explore 'Settings' > 'Modules' and add a Spending Limit module for convenient, low-value payments.
• Sub-step 2: Initiate a send transaction for 0.001 ETH to a known wallet to test the flow.
• Sub-step 3: Have other owners connect their wallets, navigate to the 'Queue', review, and sign the pending transaction.

Tip: Use the Safe Transaction Builder for complex interactions. For a token transfer, the data field would look like:

codeCopy
To: [Token Contract Address]
Data: 0xa9059cbb000000000000000000000000[RecipientAddress]000000000000000000000000000000000000000000000000[AmountInHex]

Detailed Instructions

Begin by determining the wallet configuration, specifically the m-of-n signature scheme. This defines how many signatures (m) are required from the total number of authorized signers (n) to approve a transaction. For a team of five, a common setup is 3-of-5. Next, you must compile the public addresses of all authorized signers. These are the Ethereum addresses that will hold the signing keys. It is critical to verify each address for accuracy before proceeding.

• Sub-step 1: Decide on the m-of-n scheme: For example, 3 signatures required from 5 total signers.
• Sub-step 2: Collect and verify signer addresses: Ensure you have the exact, case-sensitive public addresses (e.g., 0x742d35Cc6634C0532925a3b844Bc9e90F1A904Bf).
• Sub-step 3: Document the configuration: Record the signer list and threshold in your team's secure internal documentation.

Tip: Choose a threshold that balances security and operational efficiency. Requiring all signatures (5-of-5) is very secure but can cause delays if a member is unavailable.

Detailed Instructions

Use a trusted and audited smart contract factory to deploy your wallet. The most common standard is the Gnosis Safe. You will interact with the factory contract using a tool like the Gnosis Safe Web Interface or via direct contract calls. The deployment transaction requires you to submit the list of signer addresses and the confirmation threshold defined in the previous step. This transaction is sent from one of the signer's wallets and will incur a gas fee. After deployment, you will receive a new contract address; this is the address of your multi-signature wallet.

• Sub-step 1: Access the deployment tool: Navigate to app.safe.global and connect a signer's wallet.
• Sub-step 2: Input parameters: Enter the signer addresses and set the threshold (e.g., 3).
• Sub-step 3: Execute deployment: Review the transaction details, pay the gas fee, and confirm. The resulting contract address might look like 0x8C8D7C46219D9205f056f28fee5950aD564d7465.

Tip: Always verify the contract address on a block explorer like Etherscan after deployment to confirm the correct code was deployed and the owner parameters are set as expected.

Detailed Instructions

First, fund the wallet by sending cryptocurrency (e.g., ETH, DAI, USDC) from an external account to the new multi-signature wallet's contract address. Once funded, any spending transaction must be created as a pending transaction within the wallet's interface. This involves specifying the recipient address, the exact amount of assets to send (in wei for ETH), and any calldata for smart contract interactions. The transaction is created but not executed; it awaits the required number of approvals.

• Sub-step 1: Send initial funds: From an exchange or personal wallet, send assets to 0x8C8D7C46219D9205f056f28fee5950aD564d7465.
• Sub-step 2: Initiate a new transaction: In the Safe interface, click 'New Transaction', enter the recipient (e.g., 0xAb5801a7D398351b8bE11C439e05C5B3259aeC9B), and an amount like 1.5 ETH.
• Sub-step 3: Review and propose: Add a descriptive label (e.g., "Q3 Vendor Payment") and submit the transaction for approvals.

Tip: For token transfers, ensure you have the correct token contract address and use the 'Transfer tokens' function. Always double-check the recipient address, as transactions are irreversible.

Detailed Instructions

After a transaction is proposed, other signers must approve it. Each signer connects their wallet to the Safe interface, reviews the pending transaction details, and submits their off-chain signature or on-chain confirmation. The system tracks approvals until the confirmation threshold (e.g., 3) is met. Once met, any signer can execute the transaction, which pays a gas fee to broadcast it to the blockchain. The execution combines all collected signatures into a single, valid blockchain transaction.

• Sub-step 1: Signers review and approve: Each approving signer navigates to the 'Transactions' queue, reviews the details, and clicks 'Confirm'.
• Sub-step 2: Monitor approval count: The interface will show confirmations (e.g., 2 out of 3).
• Sub-step 3: Execute the transaction: When the threshold is met, the final signer clicks 'Execute'. They will need to sign a final meta-transaction and pay the gas fee, which can be paid from the Safe's balance if configured.

Tip: For speed, signers can use off-chain signatures (EIP-712 signatures) which don't incur gas costs until the final execution. Always verify the transaction hash on a block explorer after execution.