We will create a space multi-signature wallet based on SpaceChain space nodes, providing an absolutely secure multi-signature account management platform for the vast DAO treasury and high-net-worth crypto users. We will purchase SpaceChain’s space node service, and build an on-chain space multi-signature wallet based on this. One of the multi-signature owners will be the space account generated by the space node, and the transaction of the multi-signature account will be signed through satellite communication. Its private key will always be isolated in the satellite, isolated from the Internet hacker attack on the ground, and it will become one of the safest third-party multi-signature owners.
Our vision is to develop the most secure multi-signature platform for DAOs.
DAO has become the most popular organizational structure of Web3. At the same time, DAO treasury stores a large number of assets. According to DeepDAO statistics, there are 4,835 DAOs in operation, and the total treasury assets reach $9.4B. DAO’s huge assets have also attracted a large number of hacker attacks. One of the common attacks is to steal the private key of the multi-signature owners to transfer the assets of the treasury account. Although the DAO treasury mostly uses multi-signature accounts, the multi-signature owners are usually acquainted privately, once hackers successfully attack one of the owners’ devices, they will have a greater probability of attacking the other owners’ devices. This situation often occurs on some highly centralized sidechains, such as the Ronin cross-chain bridge that was hacked some time ago, the private keys of several verifiers are all stored in the same server, which can be easily attacked by hackers.
We hope to design a space multi-signature account through SpaceChain’s mature space node technology, and use the space account on the space node as one of the trusted third-party multi-signature owners for the DAO treasury or high net worth users, which will provide a more secure and innovative crypto asset management platform.
- Generation of multi-signature accounts on chain
- Multi-signature owners management
- Auto-generation and auto-signing of space accounts based on Google 2FA verification
- Receiving and sending of crypto assets
Partner with SpaceChain
Our main competitor is Gnosis Safe, which is currently the largest multi-signature account platform. The overall function of our product is the same as it, which is to provide users with multi-signature accounts. The biggest difference is that when a user creates a multi-signature account on our platform, we will use SpaceChain’s space node to generate an external account (space account) in space, and the space account will be one of the multi-signature owners by default. Since the space account is generated in an environment isolated from the Internet, the private key does not touch the Internet, just like a cold wallet that can be operated remotely via satellite communication. Whenever a user’s multi-signature account requires a transaction signature, the user needs to pass the Google 2FA verification to allow the space account to execute the transaction signature and return the data to earth via satellite communication. This method of creating third-party multi-signature owners in space provides maximum protection against Internet hackers. In theory, it is the most secure multi-signature platform on the market.
Our team consists of two engineers and one marketer. The two engineers had worked in SpaceChain and had led the development and launch of SpaceChain’s space nodes many times. We have rich experience in the blockchain and aerospace fields.
Engineer：Tari is an innovative researcher and software engineer focusing on backend and blockchain smart contract development. He is the computing PhD of Brunel University London who has close to 7 years of experience in developing, testing, deploying, supporting and maintaining applications using various cloud platforms, programming languages, tools and frameworks. He was the core engineer at SpaceChain and Populous World.
Engineer：Han is a full stack engineer, he has five years experience in blockchain software and spacecraft payload software development, participated in SpaceChain node launch missions for five times, and was responsible for the development of SpaceNode(Blockchain node in space) and the architectural design of SpaceChain security payment system.
Marketer：Tristan is a marketer, he has two years of Web3 market experience and is an early contributor to several DAO organizations, he is very good at using social media for marketing and brand building, and is good at community operations, and also can be responsible for the operation of multiple web3 communities alone.
This grant is enough to help us bring the product to the mainnet, which may take half a year.
- Team member salary - $20K (six months)
- Technical Feasibility Verification - $10K
- Registered company and website and server maintenance - $30K (one year)
- Purchase SpaceChain space node service — $120K (one year)
- Security Audit - $10K
- Marketing Budget - $10K