Hsuite Multisig Treasury is now also on Ethereum

Hsuite Multisig Treasury is now also on Ethereum

April 27, 2023

We are glad to announce to you all we created an Hsuite Multisig Treasury on Ethereum, using GnosisSafe.
This wallet will work like our Central Treasury does, but on Ethereum blockchain instead of Hedera one.

The multisig on ethereum are smart contracts, and ours can be found here: https://etherscan.io/address/0x1C1a8B3F512585Ed3dD5c899067B72E6ddb46358
The signatures taking part into this new multisig adventure are:
– 0xDcF243677033Bb6FA3DfE2C8909eB0cd60997874
– 0xD328C080902b9281f2d40C90144DE33EFd730279
– 0x5eE210A059b727c544c187993474941e1aA5C15b
– 0xDfA8545f23f27B54EA5DCF84d6A2526e1D9a8c6b
– 0xEdCA3faFf9BA02399B6cffADfC8e94FcAc55E0ED
– 0x0B61493f96C606C288FBF7D13Ff6007AFbC20822
– 0x2CB9E22d900920f5d61A9b3fb03c79B3CcA3ad6e
– 0xc61c7079AfC2ffEeD32Baa695b800307D2E4bC47
– 0xbB2004Df5BE83CbdC84957c19c694d5538c87A0C
– 0xC9580370ECBef95B8c03a47811c235e534B8cD9e

The multisig has 10 signatures, with a threshold of 7.

Why was this needed?

As many of you know already, we’ve been meeting several VCs and more will come. We figured out most of them required us a proof of ownership as an insurance in order to release the funds they’re willing to inject.
This proof of ownership is nothing more than allocating a specific amount of stable coin under ethereum blockchain, and keep them there for 3-6 months as guarantee and as collateral to unlock more funds.

While wishing to close a good deal with some VCs, we want to keep our structure decentralised and secure, and using GnosisSafe was the best option we could opt for.
This wallet can also be used to secure part of the funds into stable coin, for example the salaries or some part of the treasury we might decide to use in future investment as a community project. no money will be moved out of our Treasury on Hedera nor converted into any Ethereum stable coin at this moment. We will announce any movement we will perform in advance, so to stick with our transprency and to allow you all to follow the money even when going cross chain. We will keep you posted as soon as we have news from those VCs, thanks you all for being part of this journey!