A multisig, or multisignature wallet, is a crypto wallet that requires two or more approvals from other wallets to execute actions. Think of it as a wallet that multiple other wallets manage together. Multisigs are a common voting choice for many DAOs because of the ease of use and simplicity.
Multisig wallets have an approval threshold. For example, a multisig wallet might have five wallet addresses on it. If three of the five addresses sign approve a transaction, it executes. If less than three of the addresses approve it, it does not execute. You can set this approval threshold to be as low or as high as you want. You can think of approving as voting with your wallet rather than with tokens.
In the Aragon App, you can create a multisig with as many addresses as you like. And, you can always add or remove addresses later by creating a proposal. If the threshold of addresses approves it, the vote passes and the addresses are added or removed from the multisig.
Let’s go through the steps of creating a multisig with the Aragon App!
From the App explore page, you can see the recent DAOs created as well as a link to the education portal to dive into the resources.
To create your multisig, click “Create a DAO.”
2: Get a preview of the steps involved
This screen shows a preview of what to expect in the DAO creation flow. Click “Build your DAO” to continue.
3: Define your DAO branding
Next, you’ll define your DAO’s brand, like name and logo. You’ll also add information that can help your members find what they need, like a description and links.
4: Define membership: multisig members
In this step, you’ll define the membership of your DAO. To create a multisig, choose multisig members.
You will add the addresses of the wallets you’d like to be on the multisig here. You can always add more later with a proposal approved by the multisig!
In this step you can also define who can create proposals: multisig members or any wallet. If you choose “any wallet,” be aware of proposals from people outside your DAO, leading to possible proposal spam.
5: Set approval threshold
The only governance setting you will need to define is the approval threshold, which is the number of wallets that need to approve a proposal for it to execute.
6: Doublecheck everything before deploying
Check over all your settings before deploying your DAO. The only setting that can’t be changed later with a vote is the blockchain you choose. Everything else can be changed with a proposal approved by the threshold of multisig members.
7: Sign a transaction to deploy your DAO
Next, you will sign a transaction to deploy your DAO. Pay the gas fees associated with the blockchain you chose. Then, just wait a few moments for your DAO to be built onchain!
8: Launch on your DAO homepage
This is the homebase for your members. You can create proposals, approve transactions, manage your treasury, send funds, and add members, all from one place!
Get started on the Aragon App today!
Start building your multisig on app.aragon.org! For more assistance, dive into the resources in our Education Portal or check out our DAO Experts, who can help with tasks like organization design, HR, product design, and more.
We can’t wait to see what you build!
Discover the Aragon App, the no-code way to build your DAO.