Multi-factor approvals give you immutable control over how your crypto is allowed to be spent. No government or company can take assets from an NFID Vault, only the multi-factor settings you create are capable of approving withdrawals.
Setting up NFID Vault Pro Policies on creation
NFID Vault Pro gives you the opportunity to create “policies”, which are fine-grained controls. Each policy applies to one wallet account, and each wallet account can have multiple policies. Owners may reach a quorum consensus on adding or removing policies
In the screen above, notice there are three policies where a transfer request of:
- 0-10 ICP will require 3 of 10 approvers
- >10-50 ICP will require 5 of 10 approvers, and
- >50-infinity ICP will require 10 of 10 approvers
Approvers are simply the total number of Owners and Signers (read about managing members).
Adding policies to an NFID Vault Pro
Only Admins are allowed to add policies. Read more about managing members.
Navigate to the Policies tab in your vault, click the button to “Add Policy”, and set the following items:
- Which account this policy should apply to
- What value of ICP will trigger this policy, and
- How many approvals will be required to approve the transaction
Removing policies from NFID Vault Pro
Only Admins are allowed to remove policies. Read more about managing members.
