Multisig
Multisig wallets enhance security and decentralization by requiring multiple signatures for transactions, distributing control among multiple participants.
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Multisig wallets enhance security and decentralization by requiring multiple signatures for transactions, distributing control among multiple participants.
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Was this helpful?
Was this helpful?
In the Filecoin network, multisig wallets allow multiple parties to jointly manage a wallet by requiring a predefined number of signatures (approvals) for a transaction to be executed. This enhances security and decentralization by distributing control among multiple participants.
Multisig wallets are an essential component of many blockchain applications, as they enable collaborative management of funds and application state. Users initiate a transaction to be signed by fellow collaborators. Once the required number of approvals is met, the transaction is executed.
Multisig wallets enable builders to integrate the following features into their projects:
Decentralized Governance: Parties asynchronously approve transactions initiated by its members.
Security: Distributing control among multiple participants ensures that no single party has full control over the wallet.
Collaborative fund management: Multiple parties can jointly manage a wallet by requiring a predefined number of signatures (approvals) for a transaction to be executed.
There are several multisig wallet implementations on Filecoin. Builders can integrate these multisig wallets into their applications today.
The Filecoin Native MultisigActor is a built-in actor that does not interact directly with the Filecoin EVM. Like other Filecoin actors, native multisig addresses begin with f2 and represent a group of transaction signers with a maximum of 256 signers. Signers may be external users or the MultisigActor itself and can include f1 and f3 addresses.
Glif Multisig is a non-custodial web UI for the Filecoin Native Multisig wallet
MultisigActor CLI can also be used and is available from the Lotus CLI
Safe is a popular smart EVM multisig account infrastructure provider that allows users to manage their digital assets securely and can be used with many popular EVM wallets. It is non-custodial, formally verified, secures over $100B in assets, and is used by more than 200 projects. Safe has been deployed to the Filecoin EVM.
A web UI for the Safe multisig on Filecoin is available at:
https://safe.filecoin.io - the default network is set to Filecoin Mainnet
Signing a transaction from an account with no previous activity on the Filecoin blockchain will fail. You can send a transaction to this account with zero funds to initiate its on-chain activity to work around this issue.
Executing a transaction can produce gas estimation issues for accounts that have a very small amount of funds (that would not or would barely cover the transaction).
Transaction confirmation times may lead to prolonged "processing" status in the UI.
Safe addresses from other networks can sometimes be used but require additional technical steps.
In some cases the same Safe address and owner structure is not possible, learn more in this article.
Confirm complete creation (not just as a Placeholder) of the Safe multisig as an EVM contract on Filecoin prior to sending major funds.
Instructions for deploying a Safe at the same address on another chain are available in this video. Note that a compatible version of the Safe Proxy on the original chain must exist on Filecoin. Contact Safe-related support for help.
If the previous address and chain use the L1 implementation of Safe Proxy, more complex technical migration steps will be required to map to the L2 version on Filecoin. Contact Safe-related support for more info.
Safe-related support can be found in the "Need Help?" section of the Safe web UI.
The Safe transaction service on Filecoin is available at:
Note:
Faster finality is coming to Filecoin soon. For now, the Filecoin Safe transaction service sets ETH_REORG_BLOCKS to 60 blocks (i.e. Filecoin epochs) (30min) based on FRC-0089 but users may want to wait 900 epochs (~7.5h) for full finality.
Safe’s multisig smart contracts are live on the Filecoin Mainnet and Calibration testnet.