What is Squads?
Squads is a multisig platform built for the Solana blockchain. It’s designed to simplify the management of developer and treasury assets for on-chain organizations. As a web application, it secures assets in a multisig, enabling joint management of treasuries, programs, validators, native tokens, and other on-chain assets on Solana.
Background
Stepan Simkim, Deni Ershtukaev, and Sean Gansher founded Squads in 2022.
How it Works
The development of protocols or products in crypto brings with it unique challenges. Squads have been created to provide a user-friendly solution for crypto developers and operators, enabling them to manage their core developer and treasury assets. Squads address three core problems: user experience, security, and transparency. It does this by offering an intuitive interface, securing assets with multi-signature logic to decentralize control, and requiring multisig approvals for greater transparency and visibility.
At the heart of Squads is the Squads Protocol, a collection of programs (smart contracts) that power the multi-signature aspect of Squads. This allows teams to manage various on-chain assets together securely and intuitively. The protocol also brings novel account abstraction features to Solana, such as spending limits and permissions.
Key Takeaways
- Squads is a multisig platform designed for the Solana blockchain, aimed at simplifying the management of developer and treasury assets for on-chain organizations.
- It was founded in 2021 by Stepan Simkim, Deni Ershtukaev, and Sean Gansher.
- Squads address three core problems in crypto development: user experience, security, and transparency.
- It provides a user-friendly solution with an intuitive interface, multi-signature logic for security, and multisig approvals for transparency.
- The Squads Protocol is at the platform’s core, powering the multi-signature aspect and allowing teams to manage various on-chain assets securely and intuitively.
