The Vault Creation Process: Simple and Secure with Safe

Through our Safe integration, Velvet users simply create non-custodial and multisig vaults!

To create the best DeFi Asset Management Infrastructure, Velvet Capital has integrated Safe, which provides the most secure wallets and infrastructure in web3 and DeFi.

Safe has $69B in assets stored and over 5M Accounts to date.

On Velvet Capital when you create a vault, the default option is to create a keyless non-custodial smart contract vault using the Safe Infrastructure. To accomplish this Velvet uses Safe(Core) Protocol to directly deploy a vault each time a user creates a vault in a frictionless way. 

Velvet uses Safe Modules to accomplish vault creation, which allows us to add custom features to Safe Contracts.

Who uses Smart Contract Vaults on Velvet Capital: 

• Individual Traders

• DeFi Degens 

• Individual Asset Managers

Velvet Capital also has another option that vault managers can opt into, a multisig vault by Safe. In a multisig wallet, transactions require two or more wallets to sign off to execute a transaction. There are two different types you can set up, one where all parties are needed to sign off on a transaction and the other where it’s a majority of keys (two of three, three of five, etc.). 

Multisig Vaults are often not used by individual asset managers but are used for DAOs and Institutional Investors where they want the added layer of complexity to avoid one key being compromised.

Who uses Multisig on Velvet Capital:

• Crypto Hedge Funds

• Family Offices

• DAO Treasuries 

• Banks 

Ready to simplify your DeFi portfolio management experience with Velvet Capital?

By using Safe to create and deploy vaults, Velvet users can add crypto assets to their vaults in a single click and not have to hand custody of their assets to someone else.

Velvet Capital passed $1M in TVL and currently at $1,400,000, up about 57% in the past week!

We also have an Airdrop on the way and are running our liquidity mining program on the V2 where depositors are currently receiving a 2x Airdrop Bonus during the first $5M TVL (trackable in our in app tracker and updated daily). With the Airdrop, users of Velvet Capital are increasing the return in their vaults.

Currently Velvet Capital is live on BNB Chain, and are expanding the blockchain ecosystem in the near future! Stay tuned for some big announcements regarding our progressively omnichain expansion in the next few weeks.

Cheers!