Projects and autonomous groups can construct multisig wallets on the blockchain thanks to Apollo Safe.
1/ The Sei community is thrilled to announce @ApolloDAO will be deploying Apollo Safe on Sei. 🏹 X ♒
— Sei (@SeiNetwork) December 7, 2022
Apollo Safe enables projects and decentralized organizations to create multisig wallets on Sei via a streamlined front end. pic.twitter.com/G3YYiMVseu
According to Sei, the Apollo DAO will provide DAOs with an easy-to-use asset management interface and help to increase the security of community funds on the blockchain.
An easy-to-use multisig for Cosmos is provided by Apollo Safe, a multisig frontend for the CW3 contract that was first deployed on Terra and is currently being offered to Osmosis and Injective for a governance vote.
A strong decentralized ecosystem must be built using multisig solutions.
Cryptocurrency wallets utilize multisig to sign and submit transactions that require two or more separate private keys. The requirement for several signatures lowers the possibility of fraudulent spending and the danger of a single point of failure (SPOF).
The following are some examples of practical Multisig applications:
🔸 Enhanced security for personal money kept in cold storage.
🔸 Accounts for business transactions that can be authorized by the CEO, CFO, and a board member.
The beta version of Apollo Safe is still active. Apollo Pay integrated into Apollo Safe will be the product's next significant release.
