Gnosis Safe

What is Gnosis Safe?

The majority of Crypto wallets are protected by a private key that may be converted into a 12-word "seed phrase." If this private key is compromised, the money are susceptible to theft.

Gnosis Safe is an Ethereum-based smart contract wallet that needs a minimum number of persons to authorize a transaction before it can take place (M-of-N). If, for instance, your firm has three primary stakeholders, you may configure the wallet to demand consent from all three before sending a transaction. This ensures that no one individual may jeopardize the cash.

Why Use a Multisig wallet?

A multisig (like Gnosis Safe) protects you and your community.

• If your wallet becomes compromised, the attacker cannot take over your Snowcone project.

• You (or another Safe signer) could not unilaterally execute malicious transactions affecting your Snowcone project.

A multisig is an extra shield to protect your projects from harmful or faulty reconfigurations. It does come with risks though—if you cannot meet the Safe's threshold, you will lose access to everything inside of it.

Deploy a Gnosis Safe

1. Visit gnosis-safe.io and click Open app in the upper right-hand corner.

2. Connect your wallet and click + Create new Safe.

3. Click Continue to create your Safe on AVAX, and click Continue again once you have named your Safe.

4. When configuring Owners and Confirmations, you should have:

• More than one owner.

• A threshold higher than one.

• A threshold lower than the number of owners. Therefore, even if one owner loses access to their account, the Safe can still be accessed.

5. Click create and confimr the transaction to deploy your Safe. Then click Get started.

Deploy your Snowcone Project from a Safe

To deploy your Snowcone Project from a Gnosis Safe, open the Apps page in the left-hand menu on gnosis-safe.io/. Search for the Snowcone app and open it. From there, you can follow standard creation guides—instead of deploying your project at the end, a transaction to deploy your project will be queued, and other multisig owners will have to sign that transaction.

Someone will have to pay gas fees and execute the transaction once it reaches the required number of signatures.