Huge announcement about FutureX 📢
If you want to join the FutureX Discord, an exclusive invite-only discord group of investors, builders, founders in the space, please reach out on Twitter / Linkedin
Also, have been developing the FutureX website for sometime, and it’s almost ready to launch 🔥
Today we are talking about 👇
Tholos
What is Tholos building?
They are building the next generation of digital asset custody and treasury management
Tholos is the perfect solution for organizations looking to securely hold and manage their digital assets across multiple blockchains.
With industry-leading security and functionality, Tholos sets a new standard in digital asset custody and treasury management.
Current solutions
First, let’s understand what are multi-sig wallets and a get a basic overview of how they work
In a regular Ethereum wallet, transactions are signed by the wallet owner with his or her private key.
These accounts are called Externally Owned Accounts (EOAs) because they are owned by a single person.
They're made up of a single public key and a single private key.
Conversely, in a multisignature (multisig) wallet, transactions must be signed by multiple users to be executed. The users associated with a multisig wallet are called owners.
Behind the scenes, multisig wallets are simply smart contracts. A multisig wallet can be deployed by any user and accepts a few parameters.
As you can see, for a multisig to work, the necessary number of users must also have access to their account in order to approve a transaction. In the aforementioned case, the assets would be stuck in the multisig without a mechanism to retrieve them if two of the three multisig owners lost access to their Ethereum accounts.
Key pointers of multi-sig wallets:
They are smart contract based, hence difficult to upgrade
By design they are “single chain“
They are not chain-agnostic
Thus, to make access web3 dapps a special connection has to always to be made
Furthermore, let’s also check out the competitive nature of the other wallet solutions and what Tholos is offering
Competitive benchmarking
A comparative landscape of the various wallet solutions in the market 👇
What is the Tholos solution?
Tholos is building a custody and treasury management platform that enables organizations to:
securely hold their assets
transact and interact with dApps
manage day-to-day operations
They are using institutional-grade technology called MPC (Multiparty Computation) to develop a platform that unlocks functionality historically out of reach of non-institutional organizations.
The use of MPC represents a meaningful improvement for crypto-native organizations.
Tholos is building an institutional-grade product that is accessible to everyone whether you are a
DAOs
help manage assets and transact across all major blockchains
interact directly with all on-chain applications
dramatically reduce the high transaction costs associated with existing solutions
Fund
reduce their overhead costs
use a more streamlined product that also employs institutional security standards
Teams & Businesses
to securely hold crypto-assets
interact natively with blockchain-based applications to:
earning yield on assets
paying contributors with crypto
Security-conscious individual
helps manage their assets in a highly-functional environment that doesn’t suffer from a single point of failure
Core features of Tholos
→ Highest level of security
The MPC infrastructure of Tholos utilizes a new and exciting MPC stack built by former Israeli Intelligence cybersecurity experts
They’ve got onboard a security advisor that has managed security for large crypto-organizations
It is being battle-tested as they continue development and will undergo rigorous cryptography + code review, penetration testing, and comprehensive security assessment prior to going live.
→ Chain agnostic / multi-chain
it’s a fully multi-chain platform enabling organizations to hold assets and interact with dApps across all major blockchains
For instance, using Tholos; an investment DAO could securely and efficiently access Ethereum DeFi, purchase Tezos NFTs, interact with Cosmos applications, and hold native Bitcoin all from the same interface
→ Cheapest custody solution in the market
there is no startup cost to setting up a Tholos vault, no take rate, no contracts, no monthly fee
no fund lock in required into lengthy and ultra-expensive contracts (typically $30k+ a year)
no gas-related costs to set up a Tholos vault
→ Rich user experience
the team has spent three months intimately attacking the UX offered by existing competitor platforms and interviewing frequent users of the most popular custody products
streamlining common user flows into 1-click pathways making an organization's regular activities even easier to execute.
→ Self-custodial
Unlike the bulk of MPC-based products, they do not retain any share of the vault’s key
Thus they have no ability to access your assets, block your transactions, or interfere with your organization's treasury management.
Product Sneak Peeks & Beta Sign Up
I’ve loved the super neat and clean UI showcased by them, here are a few screens
You can sign up here: link or just reach out to me, I’ll get it done!
Investors & Supporters
Thanks to my friend Pierre from Lattice to also introduce me to Tholos!
How to get connected?
Tholos will be going live in early 2023. They’re actively looking to onboard and give priority access to exciting organizations operating across Web3.
If you found the work being done by them interesting and want to learn more, please reach out to me and I’d be happy to make the connect.
Check them out: