Multisig Certification

Our Multisig Certification is an exciting new product that solves an important problem while maintaining the delicate balance of anonymity. We’re looking for users to test it, and want to make sure that this problem will be solved as quickly as possible.

  • Multisig Certification allow anonymous multisig holders to confirm they are distinct people
  • This solution does not compromise the identity of the Multisig Holders, even to DeFiSafety Staff and the notary public present
  • A notary public will give an attestation of Multisig Legitimacy

The Problem: Proof of Ownership

As the world of decentralised finance develops and the amounts held in multisig contracts rises in turn, a verification problem is starting to become more common. Many developers, wishing to remain anonymous, are unable to prove that ownership of their multisig signatures are indeed theirs without compromising their anonymity..

Multisig Certification is the solution to the problem of verifying ownership of multisig wallets. We personalize and certify your multisig contract to make it easy for other developers to know the private key belongs to you. The future of finance is not based ontrust: it's based on verification.

Imagine you're a developer who wants to create an app that will revolutionize the world. Your identity of your project is totally irrelevant to it, and you have no interest in being identified by anyone. There are plenty of reasons for this anonymity. For starters, it provides freedom from pressures of the real world. Furthermore, it can also protect developers from being targeted by hackers, scammers, or even governments looking for new avenues to otherwise exploit your work.

This puts a serious target on developers’ backs in a way that can be exploited - compromising client funds, the protocol’s credibility and DeFi as a whole. In verifying and protecting the identities of those who wish to remain anonymous, actors in DeFi can take the decisions they deem necessary to move this inherently disruptive industry forward using our certification.

The DeFi space is crowded with a number of competing projects and initiatives. With so much noise, it can be hard for people to stay upto date on what's happening and figure who to trust.

DeFiSafety is charting a path to become that organization, and Multisig Certification is a step on this path.

As an independent, objective and transparent player in the DeFi space, DeFiSafety has earned a reputation for trustworthiness building comprehensive analysis systems for decentralized finance safety. DeFiSafety has come a long way in bringing greater transparency into this emerging market, and in doing this we’ve demonstrated our value as a reliable decentralized finance information source, as well as an impartial third party.

Our Solution? Trust. Verified.

We can leverage this unique position in order to solve this problem for those developers seeking to prove their code works as intended. Enter Multisig Certification: a new service in which DeFiSafety and a notary public will act as an intermediary between developers wishing to retain anonymity and the public who need conclusive proof that those claiming to control the multisig of their chosen protocol are indeed the ones doing so.

The primary purpose of this is to ensure that participants on a multisig are distinct individuals. We do NOT need to know names, faces, or really anything other than proof they are distinct individuals.

This will be a stringent process utilising encrypted and private video calls with verification undertaken by a notary public in which signature holders will remain fully anonymous. Anonymity will be protected in the following ways:

  • Masks, hoodies, gloves etc. are all fine. All that is needed is proof the keyboard is being operated at the same time as the on-chain signature is entered.
  • No speaking will be necessary.
  • VPNs are not only permitted but advised
  • No recording of the video will be taken. If DeFiSafety and the Notary Public perceives the multisig ownership proof to meet its standards, then no further proof will be required.
  • There will be no KYC required.
  • The video call will be encrypted.

In order for this service to function, DeFiSafety will require all signers to be on a video call at the same time. A stable internet connection is required, as is a separate webcam from the computer in which the multisig is verified from (which must be pointed at the keyboard).

DeFiSafety will not certify the multisig if there is:

  • Poor video quality
  • Any indication the individual is not controlling their PC
  • On chain data that doesn’t match what was performed and viewed in the call.

DeFiSafety is excited to offer this product, but testing and refinement is required in order for our verification to meet the reputation that we have earned. As such, we are looking for alpha testers.

Would you be interested in trying Multisig Certification on your Protocol as an alpha product?

If this is the case, please get in touch with us!

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