Configure Basic Strategy
Introduction
The strategy engine of ChainUp Custody provides robust support for your MPC system, setting basic strategy for all your wallets without the need for advanced strategies, ensuring asset security. basic strategy serve as the crucial line of defense for wallets, controlling various risk scenarios, including but not limited to editing basic strategy, editing advanced strategies, and transfer transactions. This arrangement aims to safeguard asset security and facilitate effective circulation. Users can design wallet strategies and approval roles according to their needs to ensure that team structure and compliance requirements are fully reflected.
Key Steps and Considerations
The scope of application of basic strategy includes transfers, editing basic strategy, and editing advanced strategy.
If a wallet has never edited advanced strategies, all risk scenarios for the wallet are controlled by basic strategy.
Operation Process
Viewing and Managing Basic Wallet Strategy
Log in and Open Strategy Engine
Use the Custody APP to scan and log in to the MPC wallet web version, select the [Strategy Engine - Wallet Strategy] module, and choose the wallet [Basic Strategy] module.
Manage Basic Strategy
Click the edit button to modify your basic strategy.
Critical Steps and Considerations The default basic strategy for all MPC wallets requires owner approval. Users can add other wallet members for joint approval according to the organization’s equity requirements.
As the last line of defense for wallet security, the basic strategy cannot be deleted. Once modified, changes to the basic strategy will be applied to all risk control scenarios. If you need more dimensional control over wallet transactions, consider configuring advanced strategies.
Add and Configure Transfer Strategy
In this step, you can configure the following parameters for the basic strategy:
Approval Members and Approval Threshold:
You can create a multi-level approval process, consisting of regular approval nodes and approval and signing nodes:
Regular approval nodes can include all wallet members as approvers, with a maximum of 9 levels.
The approval and signing node is the final node and can include members with wallet private key permissions, ensuring high-level members are involved in wallet governance.
Critical Steps and Considerations
Each wallet can only have one basic strategy, which can be modified but not added or deleted.
We emphasize the importance of correctly configuring the basic strategy. As it is the last line of defense in all risk control scenarios in the wallet, carefully select your basic strategy approvers and avoid frequent modifications.
Confirm Basic Strategy Modification
Any modifications to the basic strategy require approval from the current basic strategy to take effect. If you are an approver of the currently effective basic strategy, you can find the corresponding pending tasks in [Workflow] to process them.
FAQs
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