Use cases

MultisigX provides a flexible and secure way to manage funds and tokens on the MultiversX blockchain. Here are some use cases that demonstrate the power of this tool:

Rug pull protection

Projects that raise funds on the MultiversX blockchain can use MultisigX to protect their users from rug-pulls. This provides an extra layer of security for users and the project itself.

Social recovery

Individual users can use MultisigX to protect their funds in the event that they lose access to their private keys. By using two keys for themselves, using a quorum of 2, and appointing one or more signers (that don't know each other), users can ensure that their funds can be recovered in case of emergency. This is known as "Social recovery."

Segregating funds

Projects and organizations can use MultisigX to segregate funds for specific purposes. For example, a project can use MultisigX to create a Vault for managing funds raised through an ICO, and another Vault for the funds to be donated to a charity. This provides a secure and transparent way for project owners to manage their finances in real-time.

Shared wallet

By setting a quorum of 1, you and your friends can setup a Vault that acts like a shared wallet, where anyone can add and spend funds as they wish. Obviously, trust is required in this scenario, as any Board member can steal the Vault's funds.