What is a vault? And what are the supported multisig types?

Polkadot Multisig uses a flexible structure that combines a pure proxy with a multisig, and we refer to this as a vault. This is a structure native to Polkadot that enables a "Gnosis Safe" style multisig, where you can add and remove signers while keeping the address the same. Your funds will be stored in the pure proxy address, which we call the vault address. 

If you have previously created a pure-proxy multisig in Polkadot.js or other multisig software, you are able to import it and use it from Polkadot Multisig.

Example of the vault information that you can see when logging in.
Example of the vault information that you can see when logging in.

Vaults have properties that define how they work. 

PropertyStorage LocationNotes
Vault NameDatabaseUser-friendly name to help remember / distinguish your vault
Vault AddressOn-chain An on-chain identity will be displayed in place of the address if available. If you hover over the identity you will be able to see the full address
Proxy Type ("Multisig controls")On-ChainDefaults to an "Any," but advanced users can specific different types of proxy relationships such as "Governance" or "Non-transfer"
Time DelayOn-chainThis is an advanced feature that is not yet supported in Polkadot Multisig
Approval ThresholdOn-chainA multisig will have a set of members who can sign. The approval threshold 
MembersOn-chainThe members are the signers on the multisig, who are individuals who can approve transactions.

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