The "old" or "original" Gnosis Multisig has been very popular, especially with projects raising ICO funds in 2017. With the Gnosis Safe Multisig, we have developed a worthy successor that improves on multiple aspects of the old Gnosis Multisig. As we are fully committing to the new Safe Multisig, we have made the decision to stop our involvement with the old Gnosis Multisig. While you will be able to continue to use the old Multisig, Gnosis will not provide any support or maintenance for the software going forward.
What will change?
1. Gnosis will NOT continue development of the old Gnosis Multisig EXCEPT FOR
- Bugs that prevent access to funds (2020 only)
2. Gnosis will NOT provide any customer support for the old Gnosis Multisig EXCEPT FOR
- Issues that prevent access to funds (2020 only)
- Support to upgrade to the Safe Multisig
3. We strongly recommend everyone to switch to using the Safe Multisig by the end of 2020
Why you should upgrade to the Safe Multisig?
- Future-proof: The Safe Multisig is developed with a vibrant ecosystem and changing technological requirements in mind. The modular architecture allows for custom smart contract logic and the mastercopy-proxy setup allows users to easily upgrade to newer versions of the Gnosis Safe contracts. (optional and only the owners of the Safe Multisig can initiate an upgrade)
- Better UX: The old Multisig had a steep learning curve. With the new Safe Multisig, we made it easier than ever to get started, understand the consequences of your actions, and have an overall better user experience.
- DeFi integrated: With the introduction of Safe Apps we bring Multisig security to DeFi. You can use Safe Apps right from the Safe Multisig interface to borrow assets on Compound, pay invoices with Request or exchange tokens with 1inch.
- Mobile App: To keep you updated on your Multisig assets and transaction while on-the-go, we are launching the Safe Multisig Mobile companion app.
- Improved security: See below.
Is it secure enough?
- Bug bounty: We have been running a bug bounty for the Gnosis Safe contracts since July 2018. A report of a potential security issue pays up to $100,000. Yet, no critical issues were reported so far.
- Formally verified: The Gnosis Safe is the only formally verified smart contract wallet. Here's the formal verification report.
- Audits: We audit each and every change made to the Gnosis Safe contracts. Find the audit reports here.
- Insurance: You can buy cover on funds stored in the Safe Multisig using Nexus Mutual at around 1% / year
- Funds stored: There are already more than $1M worth of digital assets being secured in Gnosis Safe contracts. See statistics.
We are moving, too!
Gnosis already moved more than 80’000 ETH to the Gnosis Safe Multisig and will gradually move all remaining funds this year with at least 10’000 ETH being moved each month.
Here's a handy tutorial that guides you through the setup process. The Safe Multisig web app is available on Mainnet and Rinkeby networks.