💜Hello, world!
Desig Labs is a group of people that are shipping trustless solutions for multisigs & DAOs.
Desig is a blockchain-agnostic multisig solution. We employ multi-party computation (MPC) technology and remove the need of smartcontract in our solution. By becoming smart contactless, we can seamlessly deploy the solution on most blockchains with a single infrastructure.
What is multisig?
Multisig (or Multi-signature) refers to a shared wallet that requires multiple keys to authorize a transaction. A t-out-of-n multisig wallet needs t signatures at least to consent and process a transaction.
No Key-person Risk. Key person risk is when a company relies almost entirely on a single individual to succeed.
Greater Transparency. Transaction policies, signers, and actual transactions are publicly available on-chain or in the code.
Buildable Smart-Wallet. It can be easily adjusted or upgraded to fit an institution's or DAO's needs.
Why is Desig?
To examine Desig's advantages, we may look at currently available multisig solutions in the market.
The majority of multisig solutions use smart contracts to implement multisig logic. For example, Gnosis is the biggest name around, protecting more than $1.8 billion of assets. In Gnosis, the smart contract must learn how to encode the transactions, store them on-chain, and count the number of approvals. Obviously, these integrations are heavily relying on developer knowledge. As a result, it is ad-hoc, time-consuming, and unscalable.
Let's imagine you are managing a DAO with 1k members. To add all of them with $2 on average for each transaction, you may spend $2k on your first DAO. Furthermore, your DAO will keep paying roughly $2k on voting for each proposal. That's ineffective and expensive.
For modern needs, smartcontracts become the bottleneck. To solve the critical problem, Desig replaces smart contracts with a trustless decentralized network, which runs on MPC to ensure high decentralization, privacy, and security.
The network is operated as a sidechain which provides huge advantages:
Faster & Cheaper. You no longer have to wait for long confirmation with high fees on the mother chain. Instead, all voting operations would be run off-chain which is nearly zero fee and zero latency.
Blockchain Agnostic. The Desig solution is considered a side chain that works independently and is not vitally based on any blockchain. So the solution is something like "setup once and runs everywhere".
Scalability. Desig is now indistinguishable from EOA wallets like Metamask, Trust, and Phantom. Additionally, dApps are primarily designed to work with such wallets. So the multisig solution of Desig can work seamlessly on most dApps without further integrations.
Flexibility. Due to the three above properties, Desig is quite open and flexible to be modified and adapted to various applications, namely Social Login, 2FA, Parental Control, Password Recovery, etc.
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