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What are multisig accounts?

Multisig (multi-signature) accounts are shared accounts that require multiple signers to approve transactions before they can be executed. This provides enhanced security for high-value assets and team-managed funds by distributing control across multiple parties.
Multisig accounts are ideal for organizations, DAOs, treasuries, and any scenario where you want to prevent a single point of failure.

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How multisig accounts work

When you create a multisig account, you define:
  • Signers: The accounts that can approve transactions (2 or more)
  • Threshold: The minimum number of approvals required to execute a transaction
For example, a 2-of-3 multisig requires 2 out of 3 designated signers to approve any transaction.

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Transaction flow

  1. Initiate: One signer creates and submits a transaction
  2. Approve: Other signers review and approve the pending transaction
  3. Execute: Once the threshold is met, the transaction executes on-chain

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Setting up a multisig account

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Prerequisites

  • At least 2 signer accounts in your wallet
  • Sufficient balance in signer accounts for transaction fees
  • The blockchain network must support multisig functionality
Not all networks support multisig accounts. SubWallet automatically detects which of your active chains support this feature.

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Creating a multisig account

  1. Open SubWallet Extension
  2. Click on the account selector
  3. Select Create multisig account
  4. Configure your multisig:
    • Name: Give your multisig account a descriptive name
    • Signers: Select the accounts that will be signers
    • Threshold: Set how many approvals are required
  5. Review and confirm the setup
  6. Each signer must approve the initial setup transaction
Carefully choose your signers and threshold. If you lose access to enough signer accounts to meet the threshold, you will permanently lose access to the multisig account.

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Managing pending transactions

SubWallet tracks all pending multisig transactions that require your approval.

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Viewing pending transactions

  1. Navigate to the Multisig section in your wallet
  2. View all pending transactions across your multisig accounts
  3. Each transaction shows:
    • Transaction type (transfer, staking, governance, etc.)
    • Number of current approvals
    • Required threshold
    • Initiating account
    • Transaction details

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Approving transactions

  1. Select a pending transaction to review
  2. Examine the transaction details carefully:
    • Destination address
    • Amount (for transfers)
    • Network and fees
    • Other approvers
  3. Click Approve if you agree with the transaction
  4. Sign the approval with your account
  5. Once enough approvals are collected, the transaction executes automatically
You’ll receive notifications when new transactions require your approval.

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Canceling transactions

As a signer, you can choose not to approve a transaction. The transaction will remain pending until:
  • It receives enough approvals to execute
  • The initiator cancels it
  • It expires (if the network has expiration rules)

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Supported transaction types

SubWallet’s multisig accounts support a wide range of transaction types:

Transfers

Send tokens and assets to other accounts

NFT Transfers

Transfer NFTs and collectibles

Staking

Stake, unstake, and manage nominations

Governance

Vote on proposals and participate in governance

DeFi Operations

Swap, lend, and interact with DeFi protocols

Proxy Management

Add or remove proxy accounts

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Important considerations

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Security best practices

  • Distribute signers: Don’t keep all signer accounts on the same device
  • Secure backups: Each signer should securely back up their seed phrase
  • Choose trusted signers: Only add signers you trust completely
  • Set appropriate thresholds: Balance security with operational efficiency
    • Too low: Reduces security benefits
    • Too high: May make the account difficult to operate

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Deposits and fees

Creating and using multisig accounts involves on-chain storage, which requires deposits:
  • Base deposit: Required when creating the multisig account
  • Per-transaction deposit: Held while a transaction is pending
  • Transaction fees: Each signer pays network fees when approving
Deposits are returned when the multisig account is removed or transactions are completed.

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Network support

Multisig functionality is available on Substrate-based chains that implement the multisig pallet, including:
  • Polkadot
  • Kusama
  • Most parachains
Check the chain’s capabilities in SubWallet to confirm multisig support before creating an account.

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Troubleshooting

Ensure you:
  • Are connected to the correct network
  • Have synced your wallet
  • Are viewing the correct multisig account
  • Have one of the signer accounts in your wallet
This can happen if:
  • Network is congested (wait and try again)
  • Insufficient balance for fees in the multisig account
  • The transaction has expired on the network
If you still have enough signers to meet the threshold, you can:
  1. Use remaining signers to transfer funds to a new multisig
  2. Update the multisig configuration (if the chain supports it)
If you don’t have enough signers, funds may be permanently inaccessible.

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Next steps

Proxy Accounts

Learn about proxy accounts for delegation

Ledger Integration

Use hardware wallets with multisig for maximum security

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