How to Create a Safe {Wallet} on Palmera
New Feature Integration: Create and Manage Safe {Wallet} within Palmera
We are excited to announce a latest enhancement to Palmera: users can now create and set up Safe {Wallet} directly within our platform. In Palmera we support a wide range of chains, you will be able to deploy your new Safe.
Remember that depending on the network you want your new Safe you need to make sure you have some native tokens such as ETH in the wallet, as the Safe deployment will cost some transaction fees.
Why Choose a Safe?
Safe, previously known as Gnosis Safe, is designed to provide full control over digital assets, through smart contract accounts. Safe aims to replace Externally Owned Accounts (EOAs) with a modular smart account infrastructure, offering a robust and secure alternative.
Key Features of Safe:
- Safe{Wallet}: A smart contract wallet for secure digital asset management and seamless transaction execution.
- Safe{Core}: The secure infrastructure that includes Safe Smart Accounts, the Safe{Core} API, and the Safe{Core} SDK. It provides superior security, sponsored gas, simplified login processes, and easy access and recovery.
With Safe, you benefit from a multisig wallet and an account abstraction stack that ensures the security and functionality of your digital assets. Let’s dive into how you can create and set up a New Safe within Palmera.
Step-by-Step Guide: Creating a Safe {Wallet} in Palmera
Create a New Safe During the Onboarding Process
1. Create a New Dashboard:
- Select “Create a new Dashboard.”
2. Name Your Dashboard
- Provide a name and choose a handle. The handle acts as a unique identifier within Palmera and offers a direct link to your Dashboard while maintaining your privacy.
- Click “Continue.”
- To keep your dashboard private, tick the corresponding box. You can adjust privacy settings later in the settings menu.
3. Connect and Sign with Your Wallet
- Follow the prompts to connect your wallet to Palmera and sign in.
4. Create a New Safe
- You will be given the option to select an existing Safe or create a new one. For this tutorial, choose “Create a New Safe.”
5. Set Up the Details of Your New Safe
- Name Your New Safe: Add the name of your new Safe and choose the network.
- Add Signers: Specify the number of signers you want for your new Safe.
- Set Up Your Threshold: Define the minimum number of signatures required to approve and execute a transaction.
6. Review the Details
- Carefully review the details of the new Safe you set up.
- If everything is correct, click “Create” and confirm the transaction.
Congratulations! You are now ready to start using your new Safe and Dashboard in Palmera.
If you already have some previously created Safes belonging to the connected wallet, you will be able to add them later to your dashboard.
FAQ
What is a Smart Account?
A Smart Account is a type of account that uses smart contracts to manage digital assets, providing enhanced security, functionality, and flexibility compared to traditional EOAs.
What is a Threshold?
A threshold in the context of Safe Smart Accounts refers to the minimum number of approvals required to execute a transaction. This feature enhances security by requiring multiple signers for critical actions.
Why Should I Use a Safe {Wallet}?
Safe {Wallet} offer numerous advantages, including enhanced security, the ability to sponsor gas fees, simplified access and recovery processes, and the flexibility to integrate with various dApps and digital asset management tools.
