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.
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.
Contract: Are you using an existing token or creating a new one?
Name: What do you want to name your token?
Symbol: What will the short form symbol for your token be?
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.
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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