Neo partners with Palmera to launch first multisig Safe accounts on Neo X

  neonewstoday.com 21 November 2024 13:04, UTC

Neo has partnered with Palmera to introduce multi-signature smart accounts on Neo X through XSafe. This integration enables Neo X users to access multisig account functionality, offering advanced security and collaborative asset management through decentralized signature requirements.

XSafe: Customizable multisig accounts

With XSafe, users can establish accounts that require multiple authorized signatures to approve transactions. This multisig setup lets users define rules, such as which wallets can sign and the number of signatures needed for approval, adding a layer of security by preventing any individual from unilaterally controlling funds. The flexibility of multisig accounts supports secure asset storage, shared control, and decentralized decision-making.

Palmera’s integration of Safe—a trusted name in multisig solutions, initially launched in 2018 as Gnosis Safe on Ethereum—is the first multisig smart accounts infrastructure to be made available to users on Neo X. Known for its robust, audited security, Safe has since grown into a leading multisig platform, with over 200 projects using it across multiple blockchains and more than US $100 billion in assets secured​.

Key features of XSafe

Through XSafe, users can:

• Create new Safe accounts tailored to their security needs
• Designate signers and manage multisig transactions with control over rules and thresholds
• Manage asset balances, supporting familiar wallets like MetaMask, WalletConnect, and Ledger

XSafe’s accessibility through popular wallet providers makes it simple to manage assets, providing benefits for individuals, DAOs, and organizations by ensuring assets remain secure under collaborative control.

The full announcement can be found at the link below:
https://medium.com/neo-smart-economy/introducing-xsafe-a-multisig-safe-smart-account-deployed-by-palmera-a6a467416680

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