How the Franklin Treasury Works

Many teams operating onchain today have little choice but to rely on a Gnosis Safe or buy subscription access to a MPC wallet platform. Worse yet, some teams just resort to sharing private keys. While multisigs and MPC solutions have been huge innovations enabling teams to operate more efficiently onchain, they can be clunky when compared to the web2 tools available for startups.

For example, running payroll and managing a team usually requires specific permissioning for the people managing these processes. A standard 2 of 3 signing requirement as is common in multisigs can be cumbersome for leadership groups that find themselves approving recurring payments. 

That is why we developed the Franklin Smart Contract Treasury. It allows for the things that other solution don’t, like:

• Unique and customizable permissions for payroll administrators, human resource managers, and bookkeepers;

• Control of deposit & withdrawal actions for multisig signers;

• Adding & removing worker payable wallets onchain rather than managing them in separate spreadsheets;

• Segregation of company funds (no intermingling of funds with other companies like in some other payments and streaming protocols).

All of this is achieved while maintaining the non-custodial crypto nature of Franklin. Franklin provides the required tax calculations, USD movements, form generation and reporting, all wrapped in an easy to use application.

Setting up your Treasury in Franklin is simple, just connect your wallet, approve the tokens you want to use, deposit funds, and start making payments.

To learn more about using Franklin, reach out to us. Or stay tuned to our Twitter, LinkedIn, and website.

Note: Franklin’s smart contracts have processed hundreds of thousands of dollars and have been audited by Quanstamp and ChainSafe.