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DAO Discovery: Twitter Spaces on with Squads — Summary
A Multi-Sig and DAO Collaboration Platform on Solana
A multi-sig wallet is a wallet that allows for a team to sign off on transactions together and set thresholds for that (i.e. how may people need to sign off at what threshold amounts) so they can make payments a simple and intuitive experience.
The multi-sig wallet is the core of the squad and squad types include:
(1) Pure multi-sigs; and
(2) Teams — which seem to add a percentage voting power or decision-making weight on transaction decisions.
Multi-sigs are essential on many levels of project development as a tool for communities to actually become DAOs and not just governed by one person. If a group has any assets in self-custody on-chain multi-sig is immediately relevant even in a small centralised team.
It really seems to be one of the missing pieces out there right now.
At what stage of development are these tools? Can people start using it now?
Right now it’s good for small teams and communities; family-style. It’s basically ready, and more functionality is being explored. They are approaching 2000 squads and adoption is growing, but ultimately more DAO communities just need to be aware that multi-sig wallets are…
