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Interact with dApps Directly from Your Multi-Sig Gnosis Safe in Coinshift v2 Using Wallet Connect

Managing crypto treasury assets in distributed teams can be stressful and time-consuming. 

Through Coinshift v2 (beta)'s integration with WalletConnect, treasury managers can create transactions using their favorite dApps directly from their (Gnosis) Safe multi-sig account.

This means you can provide liquidity on Aave, build investment strategies using Instadapp, go multi-chain with LiFi, or interact with many other popular dApps with your Coinshift account. 

How Coinshift v2 users can interact with dApps through WalletConnect

As an example, we will show you how to create a transaction to provide liquidity on AAVE.

Step 1: Access Coinshift

Log in to your Coinshift v2 dashboard. Here you can see the WalletConnect option at the top of the page. 

Step 2: Connect With AAVE

To interact with Aave from Coinshift v2, establish a connection using WalletConnect by following these steps.

Visit the AAVE landing page.

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Click on Connect Wallet. The application will display a list of wallet types that you can use. Choose WalletConnect.

The application will display a QR code that you can copy by clicking on the Copy to clipboard button.

Once you’ve copied it, go to your Coinshift V2 dashboard, and click on WalletConnect.

Enter the following details:

  • Select the safe address you’ll be transacting from
  • Paste the QR address copied from AAVE

Click on Connect, and you can see a connection is established with the AAVE open-source protocol.

Note: the connection is only set up for this specific transaction and can be disconnected anytime.

Step 3: Create a Transaction (Supply Into AAVE)

Create a transaction directly from your (Gnosis) Safe. All transactions are created as proposals in Coinshift v2. This is to allow for flexibility for what transactions to approve and in what order.

Anyone within your organization can create a proposal. However, only safe signers can approve proposals. Approved proposals will go to other signers for on-chain approval and execution.

Go to the AAVE landing page. Here you can see that your selected safe is connected. as well as your token balance (MATIC since we are using the Polygon network here).

 

If you wish to deposit tokens into the protocol, click on the Supply button, and enter the amount of the token/coin that you wish to deposit.

Click on Supply MATIC, and you will receive a prompt to Create a Proposal on your Coinshift dashboard. Here, you can enter notes and labels on the transaction to distinguish it later.

Click on Create Proposal. A proposal will be created for the signers to either Approve or Reject.

Note that users can discard proposals without paying the network fee.

Step 4: Approve a Proposal

If a signer wants to execute the proposal, then you should approve the proposal first by clicking on the Approve Proposal button. The Coinshift dashboard will show the approval status per each safe signer.

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As you can see from the below screenshot, it was approved by the initiator.

The threshold for this safe requires only two approvals. Therefore, the second signer should Approve & Execute the transaction.

The approval workflow now shows Signer-1 as the Executor of the transaction.

Congrats! You’ve successfully created and executed the transaction.

The tokens will now be deposited into the protocol. You can check your deposit details from the AAVE dashboard.

Note: Users can follow the same steps to withdraw assets from AAVE.

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