As you may have heard recently, Chainsafe has built an early version of Multix, an interface to manage complex multisigs.
The alpha version is already live!
We are aware that the multisig interface landscape has been busy in the past weeks, but we believe that we provide a solution that is outstanding:
- it's already live, you can already see the power of what we will iterate on.
- unlike any other solution proposed out there, it's based on proxies, giving immense flexibility while keeping a great UX.
- it's trust minimized and open. There is no private database needed other than a Subsquid indexer. You are not locked-in and can still use polkadot-js/apps in parallel if you want.
- it's open source, because we believe in healthy competition. Our ideas will be copied, hopefully with attribution!
Polkadot and Kusama have the lego pieces ready to use for enterprises and DAOs to create multisigs that are flexible enough for their needs. However, the actual day-to-day handling of these multisigs is a huge burden. It is not user friendly, error prone, and time intensive. From our interviews with businesses and DAOs that use multisigs, they all use at least one proxy, and often even many more. This gives them the flexibility they need, but it also makes the management of the multisig harder when using polkadot-js/apps. Also we believe that flexible multisigs should be accessible to everyone, not only businesses.
If you build a multisig with your friends Alice and Bob, and Bob looses his private key, you will have to create a new multisig and transfer your funds/NFT. You may even be locked for a while because of staking/voting. Also your address will be different! This is dramatic! Unlike any solution out there, Multix uses proxies, thanks to this, you can change Bob's key, and you won't have to touch the funds/NFTs or unstake. Also very important, you don't have to understand deeply how proxies work, the interface is easy to use regardless.
Thanks to our deep experience of the ecosystem, Multix was built in a record time. If you want to know more about it see this article.
We would like to request ~150 000$ from the treasury to fund the development of new features for the next 5 months.
See the full proposal here
For those who want to have a quick look at Multix, I made a video to showcase why proxies are awesome, and how you can swap a multisig behind a proxy, with a couple clicks. This feature isn't live yet, but I have it mostly done already, as you can see.