A multisig account is an account that requires approval from multiple owners before a transaction can be completed.
Multisig can be useful for teams, companies, protocols, DAOs, or anyone who wants assets to be controlled by more than one person.
How does a multisig account work?
When you create a multisig account, you choose:
- The owners of the account.
- The number of approvals required to complete a transaction.
For example, a 3 of 5 multisig has five owners and requires approval from at least three of them before a transaction can be submitted.
Any owner can create a transaction request. The transaction remains pending until enough owners approve it.
Once the required number of approvals is reached, the transaction is submitted onchain.
What is a signer pubkey?
Each multisig owner has a signer pubkey that identifies them as an owner of the multisig.
Ready X displays signer pubkeys in a different format from account addresses to help distinguish between them.
When creating a multisig, you'll need the signer pubkeys of the other owners you want to add.
Can I use Ledger as a multisig signer?
Yes. A Ledger device can be used as a signer for a Ready X multisig account.
Make sure your Ledger device is running the latest firmware and that you have the latest version of the Starknet app installed through Ledger Live.
How many owners can a multisig have?
A Ready X multisig can have between 1 and 32 owners.
When creating the multisig, you also choose the approval threshold. This determines how many owners need to approve a transaction before it can be completed.
Choose the threshold carefully based on how your team wants to manage access to the account.
How do I create a multisig account?
- Open Ready X.
- Open the account switcher and select Add account.
- Select Multisig account.
- Add the signer pubkeys of the other owners.
- Select the number of approvals required to complete a transaction.
- Follow the on-screen instructions to create the multisig.
For security, each owner should use a signer pubkey generated from their own Ready X wallet or supported Ledger device.
How does another owner join the multisig?
The other owners need to generate their signer pubkeys and send them to the person creating the multisig.
To do this:
- Open Ready X.
- Open the account switcher and select Add account.
- Select Multisig account.
- Select Join existing multisig.
- Copy the generated signer pubkey and send it to the person creating the multisig.
Once the multisig has been created, the owners can join it using the details provided by the creator.
How do multisig transactions work?
Any owner can create a transaction request.
When another owner opens the multisig account, they can review pending transaction requests and decide whether to approve or reject them.
A transaction is submitted onchain once the required number of owners has approved it.
Until the approval threshold has been reached, the transaction remains pending.
Can I enable 2FA for a multisig account?
No. 2FA cannot be enabled for multisig accounts.
Multisig security is based on requiring approval from multiple owners rather than email-based 2FA.
Are Ready X multisig contracts audited?
Yes. Ready X multisig smart contracts are open source and independently audited.
Source code:
https://github.com/argentlabs/argent-contracts-starknet
Audit reports:
https://github.com/argentlabs/argent-contracts-starknet/tree/main/audit