Quickstart Guide
Everything you need to know about your first Squads multisig.
Creating a Squad
Creating a Squads multisig is a straightforward process that begins with connecting your Solana wallet (such as Phantom or Backpack) to Squads.
Upon connecting, choose a name for your squad, select the number of approvals required for transactions, and add squad members by adding their wallet addresses.
It is recommended to avoid minimum confirmation thresholds (1/x) and maximum thresholds (e.g. 5/5). Instead, opt for an optimal approach like 2/3 or 3/5 depending on the size of your team.
Always ensure each member keeps a backup of their private keys used for the multisig and that the threshold allows for easy replacement of a lost/compromised key. Recommend members to use cold wallets to protect their private keys.
Follow our step-by-step guide to creating your Squad here.
Setting up your Squad
Once you have created your multisig with a robust and secure setup, you can deposit your onchain assets to your Squad. You can carry out transfers to your Squad multisig address from these sources:
A Solana wallet (Phantom, Backpack, etc.);
centralized exchange (refer to our list of supported CEXs);
or on-ramp from a bank account using Sphere.
Note: Before adding a large amount, it is recommended to first test with a small sum to ensure:
all members understand the process,
your multisig setup works as expected.
You can manage the settings of your Squad and its members using features like Permissions, Time Locks, Spending Limits, and more.
Learn more about managing your Squad settings here.
Treasury Operations
The Squads dashboard provides an intuitive interface to not just store but manage your assets and perform treasury operations.
On And Off-Ramping Assets
Squads has integrated with Sphere, a payments platform that bridges traditional finance and the onchain economy, to enable seamless on and off-ramping of assets cost-effectively. This is enabled via Wire, ACH, and SEPA transfers for both USD and EUR bank accounts.
Additionally, teams in the US can off-ramp their assets using Coinflow, which has top-tier US bank collaborations and provides instant 24/7 crypto off-ramping to user bank accounts.
Accessing the Ecosystem
There are a ton of operations teams can undertake by accessing the vast Solana ecosystem:
In-app trading powered by Jupiter
Staking with any Solana validator (powered by Stakewiz), various liquid staking providers (fuseSOL, Jito, Marinade, SolBlaze, marginfi), Marinade Native, and the Squads Validator
SquadsX is a companion tool that enables teams to connect their Squads treasury to applications within the Solana ecosystem not directly integrated into Squads while maintaining smart account security.
And if you are a team looking for advanced features and granular controls over your assets, you can purchase the Squads Pro subscription. It equips you with additional powerful features such as permissions, sub-accounts, fee relayer, privacy mode, and more.
Reporting With Squads
Integral streamlines bookkeeping, treasury management, tax compliance, and auditing processes for crypto-native enterprises, teams, and individuals.
Once you've set up an Integral account, you can seamlessly integrate your Squads App address by simply copying and pasting it into the platform.
This integration provides you with a comprehensive overview of all your onchain activities — giving you access to detailed insights that enable you to effortlessly meet your compliance requirements and maintain accurate records of your onchain transactions.
Squads on Mobile
The Squads app can also be used on mobile devices via in-app browsers of mobile wallets like:
Phantom;
Backpack;
Solfare, and more.
More on how to access your Squad on mobile here.
In the unlikely event that the Squads app would be unavailable for a long period, we have put in place multiple options to allow users to access their assets. Learn more about accessing your Squad in such a case here.
Contact Us
If you are facing any issues or have questions, join our Discord or reach out to garrett@sqds.io.
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