What is it?

Safe Vault is a set of open source and trustless Ethereum smart contracts. it can safely "escrow" all your incoming funds (ETH and ERC20 assets), and only lets it's owner withdraw according to a pre-defined ratio .

How much does it cost to create one？

Enter the number of withdraw wallets binds the Vault to calculate realtime gas price estimate right now

What makes it special?

1. Contract Vault

Each Vault is a contract wallet without private key, so never worry about losing the private key, you can think of it as an on-chain safe, send funds to it, and only owners can withdraw..

2. High security

In terms of security, Vault really shines. Because each Vault is immutable and has no 3rd party reliance, everything is on IPFS and Ethereum (and Polygon, etc.)

3. Multipurpose => Composable

Safe Vault is versatile. you can use it in a variety of situations. You can use it as the smallest module in a DAO, as a recipient of NFT contract royalties, as a way to distribute funds among NFT collaborators, etc., Therefore can treat Vault as low level building blocks and build the addresses into oher contracts, and they will work deterministically forever.

How to use?

1. General usage

  1. Create a vault with an withdraw wallet.
  2. Each Vault generates a representative address. You can use this address to receive money
  3. All incoming funds (eth and erc20 assets) will be held in custody (“Vault”) and available for withdrawal
  4. Only the withdraw wallet can withdraw

2. Advanced usage (Fair Funds Distribution)

  1. Set up a Vault with multiple withdraw-wallets, along with how much each withdraw wallet should take from the funds.
  2. Each Vault generates a address. You can use this address to receive money
  3. All incoming funds will be stored in ("Vault") and made available for withdrawal
  4. Each withdraw-wallet can withdraw his portion based on the pre-programmed ratio, and only withdraw-wallet can withdraw

3. Withdraw as an owner

  1. If you have a withdraw-wallet of a vault, the landing page will display how much you can withdraw
  2. Click "withdraw" to withdraw your money

Best Practices for Safe Vault?

  1. KEEP IT CONFIDENTIAL: The address of the safe vault is best kept secret . Do not tell the 3rd Party your vault address, and it is should only used to store long-term funds..
  2. COLD WALLET: The Withdraw-wallet of the vault has the right to withdraw money, so it is best not to use the withdraw-walletfor daily transactions, and should use a cold wallet as the withdraw-wallet.
  3. ADDRESS NAMING: In order to facilitate the memory of the vault address, you can bind an easy-to-remember ens domain name for the vault address.

NO 3RD PARTY

Safe Vault is powered by merkle trees. Normally dealing with merkle trees is complex and requires offchain storage, and often results in some business running it as a centralized service. But not with Safe Vault. You DO NOT need to rely on a 3rd party. Here's how it works::

  1. MERKLE TREE ON IPFS: The merkle tree is stored on IPFS (future will on ARWEAVE sametime)
  2. IPFS HASH STORED ON ETHEREUM: The IPFS hash of the merkle tree is then stored on the smart contract.

Therefore Vault does not have any centralized cloud that stores your merkle trees, and has no 3rd party reliance. Everything is on IPFS and Ethereum. Anyone can host Vault on their own.

Security Risk Assessment!

  1. Contract security : Safe Vault smart contract is open source and has been tested for a long time. It accepts 3rd-party open audits and has unquestionable security.
  2. Funds security : Each Safe Vault is a smart contract with its own independent address. Since there is no private key, once the funds are deposited into the vault contract, they will be permanently stored and operated according to the contract code, and the security of funds is fully guaranteed.
  3. Safe Operation : SV (Safe Vault) is a free, client-side Web3.0 interface helping you interact with the Ethereum blockchain. Our easy-to-use, open-source platform allows you to generate Vault on-chain (contract wallets), interact with smart contracts, and so much more.
  4. Isolation Security : Funds are generally stored in the vault, and the withdraw-wallet of the vault has the right to withdraw money (equivalent to the vault key). If the private key of the withdraw-wallet is leaked, since the vault and the withdraw-wallet are information isolated, the hacker does not know the Vault information (1. He didn't know it was the vault key that was leaked; 2. He didn't know the Vault Address), so he couldn't steal the Vault funds.
  5. Risk analysis conclusions :comprehensive analysis shows that application Safe Vault can improve security by 99% compared to general hot wallets; but for 100% fund security, we still recommend that you: (1). Protect the withdraw-wallet private key or mnemonic phrase Security; (2). Keep the privacy of the Withdraw-wallet and maintain the information security isolation between the vault and the withdraw-wallet..

Best Security Practices!

  1. Targeted Attack Risk: (1). If a hacker learns the fact that a certain wallet is a Safe Vault withdraw-wallet through a social engineering attack, (2). Then launches a subsequent targeted attack on it and successfully obtains the private key of the withdraw-wallet, (3 ). At this time, the Isolation Security between the Vault and the withdraw-wallet has been broken. The hacker may trace the transaction history data of the withdraw-wallet through analysis tools, obtain the address of the Vault contract, and initiate a withdrawal operation on the Vault contract.
  2. Best Security Practices :By applying the best security practices , can completely avoid the risk of targeted attacks: (1). Protect the security of the withdraw-wallet private key or mnemonic; (2). Use a third-party wallet to deposit funds to the safe vault, Keep the withdraw-wallet as a Cold Wallet; (3). Re-emphasis: never use the withdraw-wallet to transfer money to the Safe Vault and maintain the isolation-security between the Safe Vault and the Withdraw Wallet.