In 2022, approximately 4 billion US dollars were lost due to over 300 security exploits. DeFi protocols accounted for about 82% of all crypto hackers' stoles in 2022. The most common vulnerabilities are found in smart contract exploits and private key hacks.
To tackle these problems: Our solution is Desig, a blockchain-agnostic multisig wallet that applies TSS and MPC technologies. Desig divides the master key into shares using TSS and gives each signer one to keep. When a transaction is proposed, each signer will use their key shares to show their approval or rejection. If the threshold criteria are met, the collected key shares will be combined into a valid master key. This way, even if one person's key share is compromised, the attacker won't be able to recreate the whole master key, making Desig a secure solution for wallet users.
Desig also offers easy addition or removal of signers, with the key shares automatically sent to all members added. Unlike traditional multisig wallets, where you have to manually add wallets, be charged upfront, and wait for other parties’ approvals, Desig eliminates this tedious process. There are no differences between Desig’s combined signature and the single-key wallet's master key signature. Since all DApps are designed to be compatible with common single-key wallets, naturally, Desig will be compatible with all DApps.
By doing the key splitting process off-chain using TSS, Desig doesn’t need a smart contract to collect or count signatures or verify threshold criteria. It’s smart contractless, so there is no point in failing to exploit it. And because everything happens off-chain, no fee is charged in the process.
Desig's approach to multisig is user-friendly, as it doesn't require any changes to the underlying blockchain, and the key dividing process happens off-chain, which can make it more accessible to a broader range of users. Additionally, Desig's solution includes social recovery, which allows users to recover their wallets through a trusted group of friends or family members, and zero fees, which reduce barriers to entry and make the product more accessible to users with different budget constraints.
Furthermore, Desig's solution may be more suitable for users who do not require the advanced functionality of smart contract wallets and prefer a simple and secure approach to managing their digital assets. The ability to share account security between trusted devices or individuals, and the option to set flexible security rules can provide added peace of mind for users who prioritize security.
Overall, users who value user-friendliness, cost-effectiveness, and flexibility in managing their digital assets may find Desig's multisig solution to be the best fit for their needs and priorities.
We promote a trustless environment without relying on trusted guardians or friends.