Your DAO has just launched its token! Or you’re a web3 team earning income in crypto, or have raised funding! Now you’re sitting on a bunch of crypto assets, and are unsure how to manage them – where do you store them, what do you do with them and how do you make payments?
You’re going to need a treasury management tool, which enables you to manage your organization’s money better and optimize for operations.
As you consider which treasury management tool to use, here are a few helpful things to consider before making your decision:
Manage your crypto treasury
Managing a crypto treasury is a unique experience – one that includes the experience of managing a traditional company’s bank account with the unique aspects of DeFi and blockchain.
Most crypto treasuries are held in a multisig wallet, which enables you to have multiple people signing a transaction for increased security and protections. The most popular provider is Gnosis (you can read about how to use Gnosis and mesha here).
Managing your crypto means you need to make both payments, keep your funds secure and optimize for yield. Crypto is unique that you can access DeFi to earn interest on your assets, which can help lengthen your runway and provide a source of income for your DAO or web3 startup.
What do you need to do with your crypto?
- Make payments
- Yield Optimization via DeFi
- Diversify into different tokens
Two popular options to manage your crypto treasury are mesha and Coinshift.
What is Coinshift?
Coinshift is a treasury management tool for companies and DAOs. It is built on top of Gnosis Safe, and lets you either import your existing multisig or create a new one. After this step, you can use it to make payments and manage your crypto assets.
What is Mesha?
Mesha is an all-in-one finance tool for web3 companies and DAOs. You get access to a Gnosis multisig safe, and similar to Coinshift you can create a new one or import an existing one.
Credit card + Multisig Wallet
Mesha is the only platform that enables you to get a corporate credit card linked to your multisig wallet. You can now get an expense card program, which uses the balance in your wallet to provide you with a credit limit.
Mesha’s card program enables web3 teams to:
- Pay back their balance in crypto
- Spend in fiat around the world
- Easily manage expenses
- Issue unlimited virtual cards
Mesha vs Coinshift
Mesha and Coinshift both provide treasury management software for your DAO or web3 company. However, both have slightly different features.
Both mesha and Coinshift enable you to swap your tokens via decentralized exchanges. Mesha uses 0x, which is a leading protocol that enables you to access the best prices across DeFi.
Both tools also let you make mass payouts. But mesha lets you create contact lists as well, so you can do future mass payouts in one simple click.
One helpful feature that mesha has is that you can get your multisig wallet to pay for gas fees – this means that contributors/employees don’t need to pay their own gas fees when they’re signing or executing a transaction. This is incredibly helpful! Imagine being asked to pay for your company’s bank account fees everytime you did your job!
|Multisig Wallet||Provided by Gnosis||Provided by Gnosis|
|Multisig Wallet Pays Gas Fees||Yes||No|
|Save Contacts and Create Contact Lists||Yes||No|
|Invest in DeFi for Yield||Yes||No|
|Credit Card Linked to Your Wallet||Yes||No|
In conclusion, spend some time researching treasury management tools for your needs and requirements. You can sign up for mesha in a few seconds here, or schedule a demo with us 🙂