Choosing a Signer Threshold
More information about signer counts and how to choose the best one for your Squad.
A lower signer threshold maximizes speed of decision making, while a higher signer threshold maximizes security.
There are a couple of edge cases we recommend avoiding, due to issues such as potentially losing your funds, low security and/or slow decision-making.
- Signer threshold equal to the amount of Squad members, ie. 3/3: Every Squad member will need to approve any transaction change, so if even one member loses their account or gets hacked, your funds are at risk of getting stuck in the Squad.
- Signer threshold lower than our recommended minimum of 2, ie. 1/5: transaction approvals will be in the hands of very few people, so ensure that you trust everyone in your Squad if you choose this option, and that everyone has healthy wallet security practices.
- Signer threshold higher than our recommended maximum of 5 people. Regardless of your Squad size, having more than 5 people sign off on every transaction may significantly reduce the speed in which your Squad can execute transactions.
Here's how to modify the signer threshold of your Squad:
- 1.Navigate to the "Members" tab of your Squad
- 2.Press the "..." button, located next to "Manage"
- 3.Select "Modify signer threshold"
- 4.Stay with the recommended signer threshold, or enter a custom amount in the "Custom signer threshold" field
- 5.Review everything to ensure it looks correct, then click "Propose"
- 6.Sign a Prysm one-time key