Development

Fantom Safe Multisig Wallet Now Available

We released Fantom Safe multisig wallet, an adaptation of the Gnosis Safe.

Fantom Safe is a web-based, smart contract wallet aimed at teams with joint custody of crypto funds or collectibles. Fantom Safe allows numerous independent users to access the same assets, all stored in a single, shared wallet.

The owners of a shared Fantom Safe wallet can define policies that require a minimum number of people to approve spending before it can occur. For instance, if four main stakeholders access the wallet, they can set a policy requiring the approval of all four wallet holders (or any number 1-4) before the transaction is sent.

If a transaction requires more than one signature, Fantom Safe will add it to a queue and hold until the required number of owners confirms the transaction.

Additionally, the multisig wallet includes a spending limit function. Using this, a wallet owner can set a spending limit for different addresses – owners or not – that can also work like an allowance.

In this scenario, an owner could grant a non-owner wallet access to the principal balance with a spending limit of x FTM. This limit can be set as either a one-time amount or an allowance that replenishes after a specified period of time.

Adding owners or setting spending limits costs the usual $0.001 transaction fee on Fantom. Fantom Safe is compatible with MetaMask, Wallet Connect, and Ledger.

Free, easy-to-use, and secure, Fantom Safe helps maintain trust across decentralized organizations by ensuring that no single user compromises a shared account.