Adding Confirmation to Multisig Secure Transaction with Ledger Device
As a 3-owner multisig wallet owner, you are probably familiar with the process of creating and managing transactions on the Ethereum network. In this article, we’ll walk you through the steps to add confirmation to a multisig transaction using the Safe app for Ledger device.
Prerequisites:
- You have a multisig wallet setup for 3 owners in Safe.
- Your Ledger device has the necessary software and firmware installed.
- You understand Ethereum’s multisig protocol and the concept of confirmation.
Step by Step Guide:
- Create a new transaction proposal:
* Open Safe on your Ledger device.
* Tap on the “Transactions” tab.
* Touch the “+” icon to create a new transaction proposal.
* Enter the name, description and details for the offer (eg property, gas price and fee).
- Configure multisig settings:
* In the transaction proposal editor, go to the “Multisig” tab.
* Enable “Confirmations” by toggling the switch next to it.
* Set a threshold value (ie how many confirmations you need for approval). For this example we will use 2 confirmations as the threshold.
- Create a multisig wallet address:
* In the transaction proposal editor, go to the “Wallet” tab.
* Click on the “+” icon next to your current wallet address.
* Enter a new wallet name and select the multisig setting for this wallet.
- Add confirmation:
* In the transaction proposal editor, select the “Confirm” tab.
* Click the “+” icon next to your multisig wallet address.
* From the list of proposals, select the transaction to which you want to add confirmation.
Tips and Considerations:
- Carefully test and review a transaction before proposing it.
- You can adjust the threshold value if necessary, but keep in mind that too many confirmations can slow down the transaction process.
- If your multisig wallet is set to a trust threshold higher than 2, you may need to increase the fuel price or fee to ensure approval.
Conclusion:
By following these steps, you should be able to add confirmation to a multisig transaction in Safe with a Ledger. Remember to carefully test and review your suggestions before submitting them to the network. If you encounter any problems or have additional questions, please refer to our documentation or contact our support team.
Note: This is only a basic guide, and there may be additional requirements or considerations specific to your use case. Always refer to Safe’s official documentation for more detailed information on multisig transactions and proposal management.
