Highlander •
Using SAFE with Your KeepKey for a Versatile Multisig Vault on EVMs:
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Highlander •
Welcome to Web3. Every day, billions of dollars worth of assets move on blockchains, and the technology behind the organizations is DAOs. DAOs, at their core, are treasuries — treasuries tasked with moving and holding funds on behalf of autonomous organizations. SAFE is the leading multisig vault in the space. In this tutorial, we will show you how to use KeepKey to hold crypto assets in custody, leveraging multisig technology.
First, we locate SAFE using the built-in dApp store on KeepKey.
The first thing we do is connect your KeepKey to Gnosis Safe.
Copy and paste the WalletConnect connection string into the WalletConnect window.
You can review the chains you are connecting to that are supported by SAFE.
You may need to force-select a blockchain in the WalletConnect side window by clicking the refresh button. This will send a message to the dApp (SAFE) to change its context to your intended blockchain.
Now let's create a SAFE vault.
In this example, I'm creating a 1/2 (redundant backup) SAFE. This means either MetaMask or my KeepKey may sign any transaction for the vault. This setup is intended for development purposes. For a production environment, I would recommend having 2/3 or more participants.
After entering the participants, you now need to deploy the SAFE. Note that this is an on-chain action and requires your KeepKey to have ETH or whatever base fee asset your selected chain uses.
The transaction is sent to your KeepKey to sign.
Once the transaction is broadcast, it will be pushed to the network and get indexed.
Now you can use your SAFE. It's important to understand that this SAFE has a new address; it is not the same as your KeepKey's address. Your KeepKey is just a signer. This SAFE is a smart contract, meaning it only operates on one blockchain. Assets sent on the wrong chain will be lost. There is no method of recovery for assets sent from the wrong chain to this SAFE address!
Now, introduce a new WalletConnect session! We like to call this "WalletConnect inception." This new WalletConnect window is found in the SAFE app and is only visible after connecting to your SAFE.
In our example, we are going to deploy a DAO with Aragon, a DAO management tool. Now, navigate to any website where you wish to use your vault, using a web browser. You must exit the KeepKey desktop application and use a traditional browser.
For more information on DAOs and Aragon, you can visit their official website: https://aragon.org/.
We are creating a member DAO with its own token.
Deploy
Notice that the SAFE wallet detects the transaction and will manage the multisig process here. It remembers transactions and can start, stop, or continue them as needed. You can sign your portion of the transaction and send links to other parties to sign theirs.
The simulation feature allows you to verify the actions you are undertaking. This service is provided by Tenderly and is very powerful and critical when managing a large DAO treasury. For more information, visit https://tenderly.co/.
Lets Execute
This will pass your piece of the multisig transaction to your KeepKey to sign!
after broadcasting it will be indexed.
Your DAO is deployed, and now you may launch the DAO's dashboard.
KeepKey stands out as an excellent choice for those venturing into the world of Web3 due to its robust security features and user-friendly interface. As a hardware wallet, KeepKey provides an essential layer of security by storing your private keys offline, which shields them from online threats such as hackers and malware. Its seamless integration with the SAFE multisig vault allows users to manage substantial assets securely, making it an ideal tool for anyone looking to engage in activities like running a DAO or handling large crypto transactions.
Moreover, KeepKey is closely associated with ShapeShift, a company that has transitioned into a DAO (Decentralized Autonomous Organization) and has pioneered various internal toolings in the DAO space. This connection has facilitated the development of advanced features tailored specifically for DAO management, further enhancing KeepKey’s appeal to those deeply involved in the decentralized sector. With ShapeShift’s commitment to innovation within the DAO landscape, KeepKey users benefit from cutting-edge technologies that make managing decentralized assets more accessible and secure.
By choosing KeepKey, you’re not just acquiring a hardware wallet; you’re also gaining access to a suite of tools designed to facilitate safe, efficient interactions with the emerging digital economy. Whether you’re managing a DAO, investing in cryptocurrencies, or exploring the vast potentials of Web3, KeepKey offers a reliable and sophisticated gateway to these advanced digital interactions.