Activities on the Squads project
Squads is a platform that aims to simplify asset management and increase security through the use of multi-signature. Their protocol can be used by regular users as well as DAOs, dApps and others. It is similar in functionality to Gnosis Safe, but runs on the Solana blockchain.
In total, the team has raised $22.2 million from Electric Capital, Coinbase Ventures, Multicoin Capital, Solana Ventures and others.
The article goes on to show how to interact with the project to be able to qualify for an airdrop if the team makes it in the future.
Guide to completing the activities
Note: you will need a Phantom-type wallet to pass. If you don’t have one, you can use our guide to set it up and customize it.
- Go to the site, click Launch Squads and Get started. After that connect the wallet:
- Click Create Squad, think of a name for your wallet and click Next.
- At this step you can add another wallet from which you will make a double confirmation for the transaction, or just click Next if one confirmation is enough for you.
Important: if you lose access to the added wallet, you will not be able to conduct transactions, including withdrawal of funds.
- Confirm the creation by paying the commission:
- Next, you are taken to the dashboard where you can store your funds, make swaps, stake tokens, and so on:
- To withdraw funds, you need to click Send and Another wallet on the Dashboard tab, paste your wallet address or a third-party wallet. After that, go to the Transactions tab and confirm the withdrawal by clicking Execute:
Conclusion
The protocol was created to provide security for various treasuries and has a lot of third-party functionality, which you can familiarize yourself with. You should also keep in mind that at this stage of the project’s development, the team has not made any announcements about the airdrop or even plans to launch the token.
Highlights:
- a fee will be required to create your own space;
- the protocol supports multi-signature;
- the team did not disclose plans to launch the token.
If you have any questions when going through the activities, you can ask them in our X.
Useful links: Website | X | Discord
All information is provided for informational purposes only and should not be used as a basis for making investment decisions, nor should it be considered as a recommendation or advice to participate in investment transactions. Do Your Own Research.
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