Mutable multisig

General
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1

It seams it’s not possible to modify the multisig key participants.
I have the following use case: For ASA manager address I would like to have a multisig key which we can modify.

Here is one idea how to do it:

  1. Create the initial multisig: acc_ms1
  2. Create a normal account (single public-private key): acc_1
  3. Create ASA and set manager address to acc_1 address.
  4. Rekey acc_1 to acc_ms1.

Later, when we need to update the participants of the multisig, we:

  1. create a new multisig: acc_ms2
  2. Rekey acc_1 to acc_ms2. Note for the readers: it will still require a valid acc_ms1 signature for that operation.

Question

Is there a better way to do it? What would you recommend?

2

Yes, that looks like the proper process to rotate the auth-addr of acc_1 from acc_ms1 to acc_ms2. What have you attempted and where is it failing?

3

Oh, I forgot to add the question. I’ve updated the post.

4

The better way to do it is to wait till MyAlgo releases its upcoming ASA Manager where you will be able to create the ASA directly in MyAlgo with a multisig account and have everyone sign the transaction in an intuitive way.

5

Why do you first use acc_1 as manager instead of acc_ms1?

6

To keep the same address, and use rekey to change the signature keys.

7

I might have misunderstood the use case, but I am not sure why you don’t directly set the manager address to acc_ms1.

Then you can still rekey acc_ms1 to acc_ms2.
And then acc_ms2 to acc_ms3 and so on.

8

Note that for the specific case of ASA manager, instead of rekeying, you can just update the address of the manager: Algorand Developer Docs

9

This sounds good. I didn’t know you can rekey multisig.

10

instead of rekeying, you can just update the address of the manager.

I know, but I wanted to keep the same address.

11

You can actually rekey any account, including smart contract account.