Safe Control (Gnosis Safe)
Currently supported chains are Ethereum Mainnet and Binance Smart Chain (BNB). More chains will be added as suitable bridges are made available.
Why Colony and Safe?
Safe has established itself as a secure way to store and managed personal funds for individuals to massive treasuries for teams, and organisations. Providing a multi-signature framework, whereby in order for transactions to be made within a Safe, a set number of on-chain signatures are required to approve it. Making self-custodial fund management more secure.
The power of integrating a Safe with Colony, is you are then able to unlock the governance mechanisms of a DAO built on Colony to also be used to manage funds. Making for a more decentralised, scalable, and trustless fund management system.
How can it be used?
Essentially, all actions you would like to perform from your Safe can now be controlled by a Colony and Colony's governance mechanism, most notably the Motions process.
So, anything from a simple token transfer, to managing NFTs held in a Safe, to arbitrary contract interactions from a Safe.
The integration also works across chains, so, you can have a Colony on the Gnosis Chain and use it to manage funds on Ethereum Mainnet.
How it all works
This integration works using an Arbitrary Message Bridge (AMB) for cross-chain communication and a Safe's feature called Modules.
Arbitrary Message Bridge (AMB): The purpose of an AMB is to transfer arbitrary data between two networks, for example between Ethereum and Gnosis Chain). This data can be used to send a message to a contract on the other network and execute a transaction. You can read more about AMBs here.
Safe Modules: Modules allow for external contracts to interact with a Safe and initiate transactions which can skip the need for the required number of signatures to approve the transaction. This elevates the functionality of a Safe to work with more scalable goverance mechanisms.
The following pages will detail the steps required to set up a Safe to be controlled by your Colony.