How Yumi and DSCVR use NFID’s Multi-Approver Vaults to manage their Web3 treasuries

The low-cost NFT marketplace Yumi and the Web3 social media & community building platform DSCVR find security with NFID

When the experts behind Yumi and DSCVR planned to self-custody their treasury assets, they needed proven, all-in-one wallet infrastructure with key features:

• Enterprise-grade security to protect assets from cyber attacks, internal collusion, and human error
• Intuitive experience that employees can onboard themselves to and interact with
• The ability to scale without being constrained by out-of-the-box features and functionality

To be comfortable with how their assets would be safeguarded, they looked for a wallet powerful enough to meet their needs without compromising the robustness of their security requirements. At the same time, they wanted to know that the team behind the infrastructure is supported by veterans in the industry who commit themselves to the ideals of a decentralized future.

The choice of a multi-approver workflow and policy management platform was so important, both teams spent months considering building their own systems, but were concerned with the high costs of maintaining the decentralized codebase for such a powerful platform.

Once they saw the advantages of NFID’s decentralized wallet protocol, multi-approver functionality, and automated policy workflows, they decided to work with Identity Labs and their wallet protocol, NFID.

When safeguarding treasury assets, secure wallets are essential. NFID is backed by titans in the industry, supported by the security of the Internet Computer, and built by a team that’s always there for you.

Dustin Becker, Research Scientist @ Yumi

NFID Wallet — the most convenient and secure in all of Web3

For both regular and institutional crypto wallet users, NFID couldn’t be simpler to use. Onboarding is as simple as navigating to NFID’s website and signing in with Google — no download, plugin, or complicated setup process to get started.

For enterprise-grade security, NFID supports authentication through USB security keys, fingerprints, Touch ID, and other types of localized hardware-encrypted authenticators. For example, NFID authenticates users by initiating a biometric request using a fingerprint scanner on their laptops or mobile devices.

Besides being resistant to phishing attacks, this drastically reduces the sign-in friction by allowing biometric sign-ins during re-authentication.

I love knowing that my team and I are well protected against unauthorized access to my personal NFID Wallet and shared NFID Vault.

Rick Porter, Founder @ dscvr.one

NFID’s automated policy engine for asset security

The Yumi and DSCVR teams immediately took advantage of NFID’s flexible policy engine and automated authorization workflows, using them to automatically authorize transactions when they met defined parameters. These tools dramatically sped up transaction times and lowered the need for manual approvals.

As much as Yumi and DSCVR value the savings and efficiencies, they equally value the peace of mind that NFID’s reputation carries. Not only has Identity Labs — the team behind NFID — received multiple grants from the DFINITY Foundation, they are veterans of the tech world backed by Polychain Capital, Tomahawk VC, the DFINITY Foundation, Joachim Breitner, Rubylight Ventures, and Matt Symons.

Security guarantees of the Internet Computer

A decentralized cloud computing platform requires hundreds of the world’s best cryptographers working for many years to invent novel new algorithms that can scale the security of billions of dollars in assets. DFINITY is such a team that built such a platform and called it the Internet Computer.

Already today and after being live only a year and a half, the Internet Computer settles thirteen thousand transactions per second and secures billions of dollars in ICP, NFTs, and other fungible tokens.

NFID leverages the Internet Computer’s decentralized threshold cryptography and multi-party computation to develop a foundation of security that normally only large banks and institutions have access to.

The Internet Computer is a decentralized crypto cloud platform capable of hosting and scaling full-stack decentralized applications. It’s in a category of its own as a world computer.

Dan Ostrovsky, Founder @ Identity Labs

Learn more about the Internet Computer’s features and security on DFINITY’s website.

Store your assets with NFID

NFID is paving the way for projects to develop products and services with safe self-custody. As Web3 adoption accelerates, so do the existential threats — only those who adhere to maximum security procedures will survive them.

Are you a development team working on the Internet Computer and want more information about storing your treasuries in NFID’s Vaults? Create your own on nfid.one, read more documentation, email the team at vaults@nfid.one, and follow them on Twitter at Identity Maxis to keep up with their updates.