Foundry Safe Officially Launched!
Foundry Safe is a critical infrastructure product on Web3 as a means to securely manage digital assets.
Foundry Safe is a set of smart contracts, APIs and SDKs that provide multi-sig allowance-based functionality for use on the Algorand bockchain.
It allows any dApp on Algorand to integrate multi-sig functionality inside it, providing treasury managers the freedom to transact in real time. And finally unlocking the true power of multi-sig on Algorand.
Traditional Web3 accounts are managed by a single private key, which is often generated from mnemonic phrases. The account is controlled by the user as long as they hold this private key. However, these private keys are often lost or stolen, resulting in the loss of all assets associated with the account.
Foundry Safe, on the other hand, employs smart contract accounts that can be configured in a variety of ways to satisfy the demands of various user groups.
Your trusted multi-sig system to manage digital assets on Algorand. With Foundry Safe, you can create a safe with multiple owners.
In case you’re having any difficulties using Foundry Safe, we’ve got you covered, here is a step-by-step guide.
Fully customize how your company’s crypto assets are managed, with the option of requiring a predefined number of signatures to confirm transactions. To prevent unauthorized access to the company’s crypto, multiple team members have to confirm each transaction before it can be executed.
Related educational contents:
What are Digital Wallets?
What is a Hot Wallet?
What is a Cold Wallet?
What is a Single-sig Wallet?
What is a Multi-sig Wallet?
Multi-sig for teams
Single-sig VS Multi-sig Wallet & MPC VS Multi-sig Wallet (coming soon)
About Algo Foundry
Algo Foundry is a venture studio enabling founders to focus on building world-class dApps. An initiative by Algorand Foundation and Undercurrent Capital, our resources, playbooks, systems, developer talent, network, and capital accelerate ideas by simplifying and optimizing the company creation process. We also cultivate next-gen Algorand developers through our courses to be future-ready leaders in building great products.
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About Undercurrent Capital
Undercurrent Capital is an early stage investment firm that partners leaders and visionaries in business and society to tackle their most important challenges. We believe bold steps define the future, and the ambition to lead requires singular vision, dedication and flexibility to adapt.
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