First week @ Multis

Grégoire Jeanmart
April 17, 2020

This week, I’m thrilled to announce I am joining Multis as Lead Engineer to help Thibaut and Théo to grow the platform and offer crypto business bank accounts to organisations with a single interface to easily and safely manage crypto and interact with DeFi protocols.

As part of my on-boarding challenges, I’m glad to share a quick overview of the findings I made this week:

Multis’s corner stone is the MultiSig wallet

Multis is built around a multi-signature wallet based on one of the most widely used and audited Ethereum smart-contract: Gnosis MultiSig.

Multi-signatures wallets make wallets more secure and allow corporate use-cases (confirmations, daily threshold). New transactions are set to pending and require a fixed number of unique confirmations by owners to be executed. This way, mistakes and hacks can be prevented.

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Multis also proposes a custom implementation of Gnosis MultiSig (fork) integrated to Gas Station Network (GSN) and audited. Users can perform gas-less transactions, meaning they don’t have to own ETH on their individual wallets to make transactions against the MultiSig.

Multis provides a seamless crypto experience

The second interesting fact about Multis is how smooth the user experience is, this is mainly due to:

  • The integration with Gas Station Network where users don’t need funds in their wallets.
  • Metadata: The MultiSig is enriched with metadata that can’t be stored on the Blockchain. This especially allows to name accounts and smart-contracts, tag and track transactions and send notifications.
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Security is number one priority

Finally, Multis’s number one priority is security to ensure funds are safe and in the control of the account owners at any time. This is guaranteed by:

  • Self-custody: Multis doesn’t own any private key, all the funds are stored in the MultiSig wallet and account owners are in-charge using industry standard software wallets like Portis or Metamask.
  • Battle-tested smart-contract: Gnosis Multisig smart-contract is open-sourced, fully audited and widely used in the Ethereum ecosystem.
  • Simple architecture: Multis is designed with simplicity and maintainability in mind. The code-base is composed of a Single-Page Application coded in ClojureScript and a few Firebase Cloud Functions only. Being a server-less, password-less and backend-less considerably reduces the attack vector.

Multis is a rather small but very productive team shipping efficiently new features and improvements. Given the current crisis, the decentralized aspects of the company (remote, async communication) made the on-boarding process super easy for me. In conclusion, I am very happy to join the team, and continue the work in the following directions:

  • Offer fiat accounts bridged to the MultiSig wallet
  • Integrate more Blockchain DeFi protocols
  • Participate to the design revamp.

References

Multis, crypto-first business banking

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