August 29, 2024

Safe — the industry-leading multisig now on peaq

peaq

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In a nutshell: Safe wallet has been deployed on peaq’s pre-launch network. As soon as peaq’s mainnet launches, any organizations or individuals requiring multisignature wallets will have access to one of the industry’s most trusted multisig solutions. This ensures secure governance for managing funds on-chain and enables more enterprise adoption for DePIN projects building on peaq.
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Safe asset management

Multisignature (or multisig) wallets are a critical part of Web3 infrastructure. And if you think about it, the reason for this is obvious. Sure, regular crypto wallets are quite sufficient for everyday users and crypto enthusiasts. But when you need governance in managing your assets on-chain, a simple wallet is not sufficient. You need the ability to have multiple people or entities sign a transaction for a transaction to happen.

You see, a regular crypto wallet relies on a single pair of cryptographic keys, which means one person with the access to the key is all it takes to go wrong. They might pass away, leaving the bags locked forever, or get funny ideas about a lifetime Bahamas vacay with a new identity and a newfound crypto fortune. With a multisig, though, you need multiple private keys to sign off any transaction. And if these private keys are distributed between different people or roles, you can have a more secure arrangement without a single point of failure. It’s basically like 2-factor authentication for crypto, but with as many factors (i.e. levels of security) as needed.

As the layer-1 blockchain for DePIN, peaq is dedicated to providing its rapidly growing ecosystem with all the tools required to build a more secure and transparent future. Which is why, immediately upon the launch of peaq’s mainnet, anyone will be able to store and manage their assets with Safe — the most trusted multisig wallet and platform for storing digital assets on EVM-based chains.

Safe not only ensures your $PEAQ and other peaq-based assets are stored safely, but also allows you to set your own rules for accessing and transferring those assets. This is done through smart contracts, which can be used to set up the wallet in line with the specific needs of any organization.

Here are some of the most popular features Safe provides:

Decentralized co-ownership and management of assets
Complete control over account ownership
Compatibility with popular signers like Ledger, Metamask, Trezor, and others
Batch transactions
Transaction simulations
A built-in app store
And much more

With Safe, enterprises, DAOs, and high net worth individuals can securely store their assets on peaq, participate in the Economy of Things, and help shape the future of the DePIN space. This will inevitably lead to greater enterprise adoption of DePIN technology, more liquidity-raising opportunities for DePIN projects, and a better, safer, and more secure future for all.

“The addition of Safe to the peaq ecosystem is a crucial step towards providing secure and flexible asset management for enterprises and organizations building or leveraging DePINs. With this trusted multisig solution, businesses and DAOs can manage their assets on peaq with confidence, paving the way for greater adoption of DePINs.”

— Leonard Dorlöchter, co-founder of peaq

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