How to use Safe?

What is Safe?

Safe (formerly Gnosis Safe) is a leading multisig wallet solution designed to provide enhanced security for managing digital assets. It allows multiple parties to collectively manage funds, execute transactions, and oversee treasury activities through a secure and transparent interface.

Our Recommendation for DLP Treasuries

We highly recommend using Safe to manage DataDAOs treasuries for the following reasons:

• Secure Management: DataDAO treasuries involve significant assets that require robust security mechanisms. Safe’s multisig functionality ensures that no single individual has complete control over funds.
• Accountability: Multiple stakeholders within a DLP can act as signers, ensuring collective oversight and reducing risks of mismanagement.
• Proven Use Case: At Vana, we trust Safe for managing our own treasuries. Its reliability and security have been crucial for our operations.

How to Set Up and Use Safe

1. Create a Safe Wallet:
   1. Visit Safe.
   2. Choose your network (e.g., Moksha, Mainnet).
   3. Follow the guided steps to create a Safe wallet.
2. Add Signers:
   1. Assign trusted members as signers.
   2. Configure the required number of approvals (e.g., 2 out of 3).
3. Deposit Funds:
   1. Transfer funds to your Safe wallet using its unique address.
4. Manage Transactions:
   1. Propose transactions, which require approval from the designated number of signers.
   2. Track the status of each transaction for transparency.
5. Adjust Settings as Needed:
   1. Update signers, permissions, or approval thresholds to match the evolving needs of your DLP.