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Multisig wallets

Multisig wallets are an advanced feature of Terra Station. If you’re using Terra Station for the first time, follow the Terra Station tutorial.

Multisig wallets enable a wallet to be controlled by multiple parties. A wallet manager creates a transaction and sends an encoded transaction message to the wallet signers. The signers sign the transaction and send back their signatures. The wallet manager then inputs the encoded transaction message along with the received signatures to complete the transaction.

Prerequisites

Create a multisig wallet

  1. Open the Terra Station browser extension, click on Add a wallet, and then click New multisig wallet.

  2. Enter the wallet addresses of each user of the multisig wallet.

  3. In the Threshold field, enter the number of signatures needed to post a transaction .

☢️caution

You will need to record the order of the wallet addresses provided as well as the threshold value for initial transaction confirmation. Each wallet address provided must have a transaction history of at least one transaction before it can be added as a signer of a multisig wallet.

  1. Confirm the multisig wallet details and click Submit.

  2. Enter a wallet name and click Submit.

Create a multisig transaction

Multisig wallet managers initiate transactions and send encoded transaction messages to multisig wallet participants to sign.

  1. Open the Terra Station browser extension and connect to your multisig wallet.

  2. Make a transaction using your multisig wallet.

☢️Making your first transaction

Brand new multisig wallets have no transaction history. After your first transaction, you will be prompted to provide the wallet addresses and the threshold value specified when first creating the multisig wallet. After you provide this information, you may proceed with your transaction.

  1. After submitting your transaction, you will be taken to the Post a multisig tx page.

  2. Copy and send the multisig wallet address as well as the encoded message in the Tx box to each of the multisig wallet signers.

💡Sending multisig strings

Encoded multisig transaction messages simply consist of a description of the transaction and do not contain any sensitive information. Therefore, these messages may be sent utilizing your preferred messenger application.

Sign a multisig transaction

Upon receiving an encoded transaction message, multisig signers can sign the transaction utilizing the following steps.

  1. Open the Terra Station browser extension and connect to the wallet, the address of which was provided when creating the multisig wallet.

  2. Click the three vertical dots located to the right of your wallet name.

  3. Click Sign a multisig tx.

  4. Enter the multisig wallet address and the encoded multisig transaction message you received from the multisig wallet manager.

  5. Enter your password and click Submit.

  6. Copy the signature message provided and send it to the multisig wallet manager.

Post a multisig tx

The final step in a multisig transaction is for the wallet manager to input the signatures:

  1. Open the Terra Station browser extension and connect to your multisig wallet.

  2. Click the three vertical dots located to the right of your wallet name.

  3. Click Post a multisig tx.

  4. If this is the first transaction being executed by the wallet, enter the wallet addresses in the correct order and the threshold value specified when first creating the multisig wallet. Otherwise, proceed to step 5.

  5. Enter the multisig wallet address, the initial encoded transaction message, and the signatures sent to you by the multisig signers.

  6. Click Submit. Your transaction should begin processing.

Congratulations, you just completed a multisig transaction!