Squads

big day for solana @mert and team are building foundational privacy infrastructure for the ecosystem. programmable, heavily audited and soon to be formally verified this also means that onchain privacy is coming to both multisig and altitude very soon

it’s yubikey szn so we shipped yubikey recovery for member accounts on @altitude: - the current altitude security model is building on established best practices for how advanced teams in crypto run a high value multisig, but makes it accessible to everyday businesses globally - nested accounts, device diversity, hardware signers and multi-party approvals - each member on the business account gets its own 2/3 formally verified squads multisig with email + passkey for authorizing transactions - passkeys sign directly onchain thanks to the external signature program @BasedOrion_ built a while ago - now with yubikey for recovery you can yubikeymaxx in peace and use hardware keys both for 2FA (if you store your passkeys on them) and recovery - each business account is also, of course, a squads multisig with a configurable threshold - multisig walked, fuse ran, altitude flies

some takeaways from binance and the last few weeks of cyber apocalypse: - we’ve been building in crypto for the last 5 years and it always felt like we were at war, but now we’re definitely at war - don't think i've seen the industry coordinate like this before, swift action, no hesitation, united front - we’ve come a long way - for as long as I can remember the usual response to something like this used to be “just self-custody,” I think we're past the point where that alone is a useful answer - I do believe however that self-custody without single points of failure is the way to go in a world where everything feels more fragile, both in and outside of crypto - for personal custody, a 2/3 multisig with 3 different hardware wallet providers is a good start - for teams and enterprises, the list is longer and nuance is king, at a minimum: dedicated signing devices, diversified signers, alternative frontends for verification, alerts and monitoring - while we have AI to “blame” for pointing out the fragility and gaps in our systems, I do believe it will also be responsible for generalizing formal verification by making it cheap and accessible across the board - all the recent events absolutely don’t help me sleep better, but from a squads perspective we’re staying the course: formally verifying our code (now beyond onchain), always be fuzzing/pointing new models at our programs, obsessing over enterprise security, helping solana teams design their multisig setups and preparing for quantum - leading up to Breakpoint and after we’re going to be rolling out a couple major updates to the multisig experience as well as shipping more open source tools for the ecosystem - my DMs are open if you’re rethinking your custody setup, and reach out to STRIDE to get your opsec audited - our character development arc as an industry continues and the only way out is through ps: squads was not affected by the binance incident and all systems remain operational

spend volume on @altitude cards is up 3x in the last 3 months some data on where the money goes: