Multisig Wallet

A multisignature wallet is a special type of wallet that requires multiple signatures to perform actions on it. At Bustad, we use a multisig wallet for multiple purposes:
  • To manage the admin/owner role on the Bustad protocol
  • To hold the coins we receive from BUSC minting
  • To hold EIG tokens for the community and partners that have not yet been distributed
  • To hold ENS addresses owned by Bustad
We have set up the wallet with a 3-5 principle, meaning that for every transaction, we require at least 3 out of the 5 available signatures. This approach ensures that if one account is compromised or becomes unavailable, we can vote it out and exchange it with another signature holder. We use the smart contracts implemented by Safe, which is one of the most popular multisig contracts available.