# Setting up a Token for a Multisig Project

Often a project is either not ready for or not planning to use tokenized governance. In such cases multisig governance is ideal, but it need not exclude the use of a token associated with the project.

If multisig governance is the best model for your purposes and you also want to either sell a token tied to the project or use the token for asset distribution to token holders, then you’ll want to deploy a token for your multisig project.

To deploy a token, open the settings menu for your project and select the Token tab, then click on the Deploy Token button.

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In a similar fashion to setting up an ERC-20 project, you’re given the option to either use an existing token contract or to create a new token.

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1. **Contract**: Are you using an existing token or creating a new one?
2. **Name**: What do you want to name your token?
3. **Symbol**: What will the short form symbol for your token be?
4. **Total Supply**: How many tokens would you like to mint? Note that this supply is fixed and no further tokens can be minted at a later date! If you’re uncertain, mint more tokens to be safe.
5. **Allocations (new token)**: Who initially will be granted tokens? You don’t need to do all of your allocations now; they can be transferred later with a proposal.

If you’re planning to transition to tokenized governance in the future, keep in mind the amount of tokens distributed and be sure that quorum can be reached before committing to token voting.

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