Squads Labs provides a multi-signature wallet solution on the Solana blockchain, enabling on-chain organizations to securely manage their treasury, developer assets, and tokens through programmable digital signatures. This technology mitigates the risk of asset loss by requiring multiple approvals for transactions, ensuring self-custody and enhanced security for decentralized teams.
Funding
$22M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
On-chain organizations on Solana face security risks when managing treasury, developer assets, and tokens due to the potential for unauthorized transactions and single points of failure. Traditional hot wallets lack the necessary safeguards for collaborative asset management, increasing the risk of asset loss or theft.
Solution
Squads Labs offers a multi-signature wallet solution on the Solana blockchain, providing a secure and self-custodial method for on-chain organizations to manage their digital assets. By requiring multiple approvals for transactions, Squads mitigates the risk of unauthorized access and enhances security for decentralized teams. The platform supports programmable digital signatures, enabling granular control over spending limits, time locks, and role-based permissions. Squads allows teams to manage treasury, upgrade programs, manage validators, and mint/burn tokens, all within a secure multi-signature environment.
Target Audience
Squads is designed for on-chain organizations, decentralized autonomous organizations (DAOs), and Web3 teams on Solana that require secure and collaborative management of their digital assets.
Features
- Multi-signature wallet requiring multiple digital signatures to approve transactions
- Self-custody of assets, eliminating the need to trust third parties
- Compatibility with any dApp on Solana via browser extension wallet
- Treasury management tools for paying employees/contributors and diversifying treasury
- Vault for depositing and sending fungible tokens and NFTs
- Sub-accounts for budgeting and cash flow management
- Granular control settings for roles, spending limits, and time locks
- Staking functionality for SOL with various Solana validators and liquid staking providers
- DeFi integrations for accessing DeFi products directly within Squads
- Program upgrade management and upgrade history tracking
- Validator management, including adding validators and withdrawing rewards
- Token management, including minting, burning, and managing token properties
- Transaction builder for creating custom transactions with arbitrary instructions