How to Transfer Funds from a Multisig Wallet?
What is a Multisig Wallet?
To learn more about multisig wallets please refer to the Multisig Wallets documentation.
WARNING: Do not send funds to the C-Chain address of a multisig wallet
Please be advised that the functionality of sending funds from another wallet to a multisig wallet's C-Chain address is still under development. We strongly advise against doing so, as your funds may become stuck and irretrievable.
You own a multisig wallet, which has one or multiple owners with a threshold of one or higher. You wish to use the funds in this wallet on the C-Chain, which is an Ethereum-compatible smart contract chain.
To accomplish this, you must first transfer funds from the multisig wallet to a regular (singlesig) wallet, and then perform a cross-chain transfer to the C-Chain.
Once your funds are on the C-Chain, you can utilize them with Metamask for transferring funds to other addresses, deploying and interacting with smart contracts, and other operations.
- Initiate a P-Chain to P-Chain transfer from the multisig wallet.
- If the multisig wallet's threshold is higher than one, have one or more of the other owner wallets sign the initiated transaction.
- Execute the multisig P > P transaction.
- Verify that you have received the funds on the singlesig wallet.
- Perform a cross-chain transfer from the singlesig wallet.
- Verify that you now have the funds on the C-Chain.
1. Initiate The Transfer
Retrieve the P-Chain Address of the Singlesig Wallet
To begin, you must obtain the P-Chain address of your singlesig wallet. Log in to the wallet and copy its P-Chain address.
Initiate the P > P Transfer
Now, log in to your wallet, which is one of the owners of the multisig wallet. Then, proceed to the "Send" section of the wallet. Select P as the source chain, and fill in the fields for "Amount" and "To Address". Finally, click on "Confirm".
Send the Transaction
After filling in the necessary information, you will need to confirm the transaction by clicking on the "Send Transaction" button.
Once you have completed the previous step, you should see the following screen. The transaction has now been initiated and is awaiting signatures from other owners of the wallet.
2. Sign the Transaction
At this point, another owner of the multisig wallet needs to log in and navigate to the "Send" section of the wallet. The transaction should be available for signature.
Once you click on the "Sign" button, you will either see the "Execute Transaction" button as shown below, or if the multisig wallet's threshold is greater than two, you will need to log in to another wallet and sign from there until the threshold is satisfied.
3. Execute the P > P Transaction
Click the "Execute" button to send your transaction to the network for execution.
4. Verify Receipt of Funds in Singlesig Wallet
Log in to your singlesig wallet again to verify that you have received the funds on P-Chain. To do so, click on the "Show Breakdown" button.
If the balance is not updated, click on the refresh button located at the top right corner of the total balance.
5. Cross-Chain Transfer from P-Chain to C-Chain
Navigate to the "Cross Chain" section of the wallet. Select "P Chain" as the source chain and "C Chain" as the destination chain. Enter the desired transfer amount and click "Confirm".
Click Transfer button.
If the transaction is successful, you will be presented with a screen similar to the one below.
6. Verify You Have Funds on C-Chain
After completing the cross-chain transfer, check the breakdown balance to ensure that the funds have been successfully transferred to the C-Chain. You can now use these funds to interact with smart contracts or perform other operations on the C-Chain. Enjoy!