Hedge + Snowflake
❄️ +🦔 = Enabling multi-sig and on-chain automation for Hedge users!
Hedge is partnering with Snowflake, a multisig and automation platform on Solana. Through this partnership, Hedge users will be able to take out USH denominated loans while enjoying the full security of a multi-sig.
Hedge is currently using Snowflake Safe to manage their Solana Program Upgrade through a secure Multisig. Prior to this, entire Solana programs are managed by a single wallet, which also represents a single point of failure. Each smart contract has an upgrade authority which allows the person holding the private key to perform such an upgrade and mutate the state of the on-chain program. Snowflake Safe allows teams to decentralise the program authority and remove a single point of failure by leveraging a secure multisig.
Snowflake will aim to include Hedge within their Solana Apps store. Currently, the Snowflake app store contains a variety of applications that allow users, teams and DAO’s to swap, lend, invest, stake and much more. Through the future integration, users would be able to undertake loans of $USH, a stablecoin soft-pegged to the US dollar. This partnership will allow users to borrow on-chain tokens without having to sell their underlying assets.