Settings and Members
Learn how to manage the settings of your Squad and its members.
Last updated
Learn how to manage the settings of your Squad and its members.
Last updated
The "Settings" tab displays information about the Squad and allows you to:
View the Squad's vault address and multisig address
Edit the photo, name, and description of the Squad
Check the confirmation threshold and initiate a transaction to change it
Select the default explorer for the Squad's transactions
Add a spending limit for a member of your Squad to withdraw funds
Set a time lock for the Squad's transactions
When creating a Squad, a Program Derived Address (PDA) is created with specific details such as members, threshold, and more. This PDA's address is the multisig account address, owned by the Squad program and used exclusively for Squad detection.
The Squad Vault and Sub-accounts are PDAs derived from the multisig account address. Unlike the Squad's PDA, they aren't owned by the program, allowing them to function as classic wallets for sending and receiving funds.
DO NOT set the Multisig Account address as an authority of your programs nor send any kind of assets to it.
ONLY the Squad Vault address should be set as the owner of your assets/authorities. The Multisig Account address is used solely for CLI settings commands.
Sending assets or setting authority to the Multisig Account address will cause irreversible loss of funds/assets.
The confirmation threshold is crucial for securing assets within a Squad. It represents the number of Squad members required to confirm before executing a transaction.
When configuring the confirmation threshold for a Squad:
Avoid setting it at 1/n signatures, as this creates a single point of failure.
Avoid setting it at maximum capacity (e.g., 2/2, 3/3) to prevent potential loss of access.
To adjust the confirmation threshold:
Navigate to the "Settings" tab.
Click on the threshold icon, set the new threshold, and launch a transaction.
The threshold will change upon transaction execution.
Only members with "Voter" permission count towards the threshold parameter.
Changing the confirmation threshold will cancel all "Active" and "Ready" transactions in a Squad for security reasons. Complete these transactions before changing the threshold to avoid issues.
Spending limits allow Squad members to move a certain amount of assets from the treasury without requiring full Squad approval.
To add a Spending Limit:
Navigate to the "Settings" tab.
Click the "Add Spending Limit" button.
Specify the parameters and click the "Initiate" button.
Spending limit parameters include:
Account: The account from which a member will be able to withdraw funds.
Token and max amount: Specify the token and its maximum withdrawal amount. Currently, a member can set only one token per spending limit.
Time frame: The period during which the spending limit is active. The amount available for withdrawal will be reset at the beginning of a new time frame period. If a member sets "None," the spending limit will be active until the full token amount is withdrawn.
Destination: Wallet addresses for fund withdrawals (multiple can be added).
After setting a spending limit, it can be viewed on the member's card or in the "Settings" tab for editing.
Make sure you regularly monitor active spending limits to ensure they align with your operations. Reserve them for trusted members and update them frequently to reflect organizational changes or if a member leaves the project.
Time locks allow Squad members to defer the execution of approved transactions for a set period of time.
Time locks apply globally to all Squad transactions once set.
"Active" transactions and "Ready" transactions for changing Squad settings initiated before the time lock will change to a "Canceled" state upon activation.
Available periods: 1 hour, 1 day, 1 week, Custom (in seconds), None (disables the time lock).
To create a time lock:
Navigate to the "Settings" tab.
Select the desired time lock period and initiate a transaction.
The time lock activates upon transaction execution.
Choose a time lock duration that balances security with accessibility of funds. Avoid excessively long periods (e.g. 1 month) if regular asset management is expected.
The "Members" tab allows Squad members to:
View Squad members
Initiate transactions to add or remove members
Rename wallet addresses of members (locally saved, visible only to the person who modified the name)
Navigate to members' Twitter profiles (if linked via Bonfida)
Squads Pro users can also set permissions for members and manage the "Modules" that include the fee relayer and SquadsX.
Adding a Member:
Click on the "Add member" button.
Insert the public key of the member.
Specify permissions for the member if you have a Squads Pro subscription (More about "Permissions" here).
You can optionally change the Squad threshold in the same transaction. If not, the threshold will remain the same with a new member added to the Squad.
Click the "Initiate transaction" button.
Reminder: Adding members or changing the confirmation threshold will cancel all "Active" and "Ready" transactions in a Squad. Complete these transactions before making changes to your Squad threshold to avoid issues.
Removing a Member:
Click on the "Bin" icon on the member's card.
Click "Initiate".
The member will be removed from the Squad upon execution of the transaction.
For more granular control on how members of a Squad can operate, Squads Pro users can set permissions for each member in how they can trigger and approve transactions.
Learn more about Squads Pro features here.