Project name

DAO Multi-Signature Wallet System

Project track

DeFi

Elevator pitch

Our DAO multi-signature wallet system is an upgrading based on gnosis-safe. It can not only be upgraded by changing parameters, but also stored in the DeFi protocol.

Team Name

RainbowCity Foundation

Submission links

Project demo website:
https://mswallet.rainbowdao.io/#/myMultiSign

GitHub repository:
https://github.com/RainbowDAO/04-DAO-Multi-Signature-Wallet

Solidity-Version-contract (GitHub):
https://github.com/RainbowDAO/04-DAO-Multi-Signature-Wallet/tree/main/Solidity-contract

Frontend code (GitHub):
https://github.com/RainbowDAO/04-DAO-Multi-Signature-Wallet/tree/main/Front-end

Picture (GitHub):
https://github.com/RainbowDAO/04-DAO-Multi-Signature-Wallet/tree/main/PIC

Recorded video demo

https://youtu.be/UXPKURMCVuw

Testnet Deployment Information

Network Name: Theta Test Network

RPC URL: https://eth-rpc-api-testnet.thetatoken.org/rpc

Contract deployment address

multisign：0x74dfd4afa285e1d5dde51995b094f15366cfd640

Frontend docs:

https://github.com/RainbowDAO/04-DAO-Multi-Signature-Wallet/blob/main/Front-end/README.md

Contract docs: https://github.com/RainbowDAO/04-DAO-Multi-Signature-Wallet/blob/main/Solidity-contract/README.md

Project social media:

RainbowDAO website: http://www.rainbowdao.io

Rainbowcity website: https://www.rainbowcity.io

Twitter: https://twitter.com/RainbowDAOio

Discord: https://discord.gg/vbnvFEeYRr

Telegram: https://t.me/RainbowDAO

Medium: https://medium.com/rainbowcity

Github: https://github.com/RainbowDAO

Email: Rainbowcitydao@gmail.com

Project Story

1.Inspiration

The DAO multi-signature wallet management system is another important innovation in our DAO infrastructure product. The design of this product is mainly inspired by the famous multi-signature wallet gnosis-safe but our system is an upgrading based on it. Fund management is the core module of various types of DAO organizations, managing the funds of community in the form of multi-signature. However, functions of the existing multi-signature wallet system are still too simple. To counter this, we have developed the DAO multi-signature wallet management system.

2.What it does

Our DAO multi-signature wallet management system is an upgrading based on gnosis-safe, which has the existing functions of gnosis-safe and some unique capabilities.

This multi-signature wallet system focuses on two shortages of DAO organization:

⑴ Our wallet system can be upgraded through governance.

When the gnosis-safe multi-signature wallet system is established, all its parameters are fixed, such as the multi-signature address and control parameters, they are all set and cannot be upgraded. However, our system allows two improvements. First, the existing multi-signature signers can be changed; second, the multi-signature control parameters can be altered. For example, 3/6 control parameters can be changed to 4/9. In this way, the upgradeability of the DAO multi-signature wallet is realized.

(2) By establishing Defi controller, we can deposit the funds of multi-signature wallet into various DeFi protocols, so that the funds in the multi-signature wallet can increase in value and gain additional income. That is also a major innovation.

3.How we built it

DAO multi-signature wallet system has the following functions:

⑴ Establishment of DAO multi-signature. Anyone can establish their multi-signature wallet system among different wallet addresses, set multi-signature control parameters and approve the use of funds in the form of multi-signature;

(2) Upgrading in DAO multi-signature wallet protocol. For gnosis-safe, once the multi-signature contract is deployed, the information of the contract cannot be changed. In contrast, in our contract, signers and signing conditions of multi-signature can be changed through multi-signature review and approval. Hence, funds in DAO can be managed more flexibly;

(3) DeFi controller. Funds in the vault can be used to increase liquidity in decentralized exchanges through multi-signature to obtain benefits generated by liquidity; or, funds in the vault can be deposited and withdrawn from lending platforms to attain benefit through multi-signature. These two functions can help to activate the precipitation funds in the multi-signature wallet, so that the value of funds can be increased through various DeFi protocols to maximize the efficiency of the use of funds.

4.Challenges we ran into

When developing DAO multi-signature wallet system, the biggest challenge for us is how to deposit the funds of the multi-signature wallet into various DeFi protocols in the form of multi-signature review and approval, which is very difficult. We must fully refine each step of the operation, sort out specific product details and finally realize the cross-contract interaction between multi-signature wallet and DeFi protocol.

For example, if we want to deposit the funds of the multi-signature wallet into Compound's banking system. From depositing to borrowing, we have to make sure every step goes smoothly to realize the perfect interaction between multi-signature wallet system and Compound lending system and all the interaction is carried out in the form of multi-signature review and approval.

5.Accomplishments that we're proud of

When developing DAO multi-signature wallet, our biggest achievement is that we successfully developed DeFi controller. By making different DeFi controllers, the funds in the multi-signature wallet can interact with various DeFi protocols, so that the precipitation funds can be used effectively, which is of great benefit to DAO organization.

6.What we learned

Through this development, the most valuable knowledge we got is that we know how to construct cross-contract calls between different contracts and how to render funds in the wallet interact with other DeFi protocols in the form of multi-signature. We currently only developed two DeFi controllers. One can deposit multi-signature funds into decentralized exchanges to increase liquidity; the other can deposit them into lending agreements to earn interest. In the future, we will cooperate with various DeFi protocols to develop different controllers for an assortment of DeFi protocols and realize the interaction between multi-signature wallets and more DeFi protocols.

7.What's next for DAO-Multi-Signature-Committee

Our work next is continue to cope with the details of this product, reconstruct the logic of the product and make this product as adaptable as possible to meet the needs of various types of DAO organizations. When the product functions are further improved, we will submit an external audit. When the audit is done, we will deploy the product to each public chain.