Apollo Safe is our multisig frontend for the CW3 contract, providing an easy to use multisig for Cosmos, initially launched on Terra and now coming to Osmosis and Injective for a governance vote.
“A MultiSig wallet is a digital wallet that operates with multisignature addresses. This means that it requires more than one private key to sign and authorize a crypto transaction”
The aim of Apollo Safe is to enable non-technical users to manage their multisig funds, increasing adoption and improving asset security and management for Cosmos. While Apollo Safe was initially built and deployed on Terra, we are working on making Safe fully IBC 1.0 compatible, so that it can be deployed across the Cosmos. We have made a number of big updates to Safe recently, that now allow you to connect your Apollo Safe to any dApp through WalletConnect, making it incredibly easy to access DeFi opportunities with your multisig.
Apollo Safe Use Cases
We believe that an easy to use multisig wallets is critical to the growth of any new crypto ecosystem - on Terra our main users were:
- Large ecosystem funds such as LFG (used for Nationals Deal).
- Projects (Defi, NFTs) and large DAOs
- Crypto and investment funds
- Small NFT DAOs
- Families/groups of friends
Apollo Safe can do pretty much anything that a normal wallet can do, such as receive and send funds as well as connect to and interact with dApps. We will continue to add features and improve Safe's functionality, with our first major update “Apollo Pay” payment streaming coming soon. Apollo Pay will allow easy payment of DAO contributors and as well as other users, such as ecosystem funds.
As with many crypto tools, we believe the full extent of application for Apollo Safe is yet to be explored and we look forward to seeing increasingly inventive uses.
Apollo Safe Governance Proposal
You can find our signalling proposals below, with some great questions and feedback from the community
- Osmosis: https://gov.osmosis.zone/discussion/5852-signalling-proposal-launch-apollo-safe-multisig-wallet-for-osmosis-from-the-apollo-dao-team
- Injective: https://gov.injective.network/discussion/5841-proposal-to-launch-apollo-safe-on-injective
We will be following these with our on chain governance proposals very soon and will keep you updated.
Why deploy to Osmosis and Injective?
Apollo Safe is built around the asset management requirements of Apollo DAO, with these features then released to the public. With each new ecosystem we deploy to, we can exponentially increase the use cases that become possible for users of Safe, improving the efficiency of asset management on Cosmos for Apollo and our users.
Osmosis has the deepest liquidity and is one of the most active Cosmos chains, while Injective provides a key tool to DAOs and funds (for whom it is difficult to trade through CEXs and access leverage) by enabling them to trade and hedge their portfolios on chain, while also improving the volume and liquidity of exchange dApps on Injective. This also has the potential to open up arbitrage opportunties for Apollo (and other DAOs and funds that were prevented due to the lack of multisig solutions) between Osmosis and Injective, as well as other Cosmos chains in the near future.
We are also excited to see other projects, such as Aperture Finance building on Injective, which will increase the number of use cases for Apollo Safe on Injective.
Finally we also plan to deploy Safe to additional unique ecosystems, such as Secret, which would add some interesting privacy enabled applications for multisig users.
We continue to explore more Cosmos chains for potential opportunities to deploy Apollo Safe.
Apollo Safe for Cosmos, Osmosis Guide
1/ How to Create a new multisig wallet with Safe
2/ How to fund and set up your multisig
3/ How to send funds and create basic proposals
4/ How to connect to Cosmos dApps with your multisig
5/ Apollo Safe Osmosis Demo Additional use cases for WalletConnect (full video)
Why Apollo Safe will be beneficial for Osmosis and Injective
Apollo Safe will provide a number of key benefits to the Osmosis and Injective ecosystems by making it easier for DAOs, funds, and a range of other crypto participants to more securely manage funds, which will in turn increase liquidity and the volume, as well as reducing the barriers to deploy dApps.
Overall we believe that an easy to use multisig is crucial for any developing crypto ecosystem, as it increases the range of users who can participate in the ecosystem and increases the accessibility for builders and larger users.
By increasing the accessibility for DAOs and builders tools such as Apollo Safe can help to bootstrap ecosystem growth. By deploying Apollo Safe on Osmosis and Injective, it will become far easier for Apollo to continue building future tooling and dApps, as well as deploy funds to for these ecosystems.
Milestones for Apollo Safe (on Osmosis and Injective)
- Deploy CW3 Contract and Apollo Safe front end interface,
- Add Keplr and WalletConnect (dApp connection) support.
- Deploy Apollo Pay, our payment streaming contract built into Apollo Safe
- Deploy front end interface for Apollo Pay
- Deploy Apollo Router for increased more efficient trades and swaps
- Enable IBC transfers for Router
- Integrate On/Off ramp into Apollo Pay, greatly improving the UX for DAO contributors that are being compensated. We have been talking with an off ramp provider for the Cosmos ecosystem and will integrate with them as soon as their solution is ready.
Our plans for Apollo Safe go well beyond just being a multisig and the Apollo team will continue to develop and provide support for Apollo Safe. Alongside WalletConnect, we will also be launching Apollo Pay (a payment streaming contract) and the Apollo Router (which will enable more efficient trades for large swaps), with more developments and integrations planned.
Future Plans for Apollo
Apollo Safe is just the first stage of Apollo’s redeployment, and will allow us to deploy more products, features and capital to these ecosystems. Our next major release with be our liquid staking derivatives for Cosmos, starting with apOSMO and apINJ, which we will be diving into in our next article.
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