Manage Fungible Assets with Multisig

This tutorial introduces a practical use case that combines Aptos framework multisig account with fungible asset standard to enhance the security margin of the management of fungible assets. Make sure you have understood module publishing and Aptos framework multisig account before moving on to the tutorial. If not, it is highly recommended to try out the following tutorials first:

Your First Move Module

Step 1: Pick an SDK

This tutorial was created for the TypeScript SDK.

Other developers are invited to add support for the Python SDK, Rust SDK, Go SDK and Unity SDK!

Step 2: Publish the module

To create a fungible asset controlled by an Aptos framework multisig account with all the administrative operations (mint, transfer, burn, freeze/unfreeze), a well-designed smart contract based on fungible asset standard is a prerequisite. The Aptos team provides an example code in aptos-core repo.

Clone the aptos-core repo:

git clone git@github.com:aptos-labs/aptos-core.git ~/aptos-core

Navigate to the managed_fungible_asset directory and then publish this package onto your default account using CLI:

cd ~/aptos-core/aptos-move/move-examples/fungible_asset/managed_fungible_asset
aptos move publish --named-addresses example_addr=default

Navigate to the multisig_managed_coin directory and then publish this package onto your default account using CLI too:

cd ~/aptos-core/aptos-move/move-examples/fungible_asset/multisig_managed_coin
aptos move publish --named-addresses example_addr=default

For this tutorial, multisig_managed_coin need to call functions defined in managed_fungible_asset on the same address. So both modules have to be published.

Step 3: Start The example

cd ~/aptos-core/ecosystem/typescript/sdk/examples/typescript

Run the multisig_managed_coin example:

MODULE_ADDR=${DEFAULT_ACCOUNT_ADDRESS} pnpm run multisig_managed_coin

This example uses the Aptos devnet, which has historically been reset each Thursday. Make sure devnet is live when you try running the example! If you are running localnet with faucet, you can run the following command instead:

export APTOS_NODE_URL=http://0.0.0.0:8080
export APTOS_FAUCET_URL=http://0.0.0.0:8081
export MODULE_ADDR=${DEFAULT_ACCOUNT_ADDRESS}
pnpm run multisig_managed_coin

The example script should execute successfully without any errors. Then you are able to see what it did by searching the owner1 and owner2 addresses printed to the console on Aptos explorer.

Let’s follow the script to understand what it does:

Generate single signer accounts

First, we will generate three single signer accounts, owner1, owner2 and owner3 who will co-own an Aptos framework multisig account.

Create an Aptos framework multisig account with a managed fungible asset

Next, let owner1 call the initialize() function defined in multisig_managed_coin.move, which first create an Aptos framework multisig account owned by owner1 and add both owner2 and owner3 as owners. Also, it creates a fungible asset called “meme coin” with customized settings denoted in the argument list and make the multisig account the admin of the fungible asset. Also, each proposal needs at least 2 approvals to execute.

Mint

Then we mint 1000 and 2000 meme coin to owner2 and owner3, respectively. The proposed transaction is submitted by owner2 and gets an additional approval from owner3.

Freeze

After minting, the example shows how to freeze account owner1. The proposed transaction is again submitted by owner2 and approved by owner3 in addition.

Force transfer

When owner1 is frozen, normal transfer cannot withdraw from or deposit to that account. But as the admin of “meme coin”, the multisig account has the capability to do that. Next, Owner2 proposed a transaction to force transfer 1000 meme coins from owner3 to owner1. This time, owner1 approves it.

Burn

Finally, all the three owners have 1000 meme coins. Let’s burn all the coins! Owner2 makes the proposal and owner1 approves it.

Conclusion

This tutorial shows an e2e flow of using Aptos framework multisig account to administrate fungible asset. Similarly, you can create your own module and leverage our powerful SDK to create the administration schema that fits your needs.