7.2 Multisignature Mechanism of IMMT

The multisignature (multisig) mechanism of IMMT is designed to enhance security and control over critical operations within the platform. Here is a description of the multisig mechanism specific to IMMT:

Role of Multisig:

· IMMT utilizes a multisig approach to require multiple authorized parties to sign off on important transactions and actions.

· The purpose is to prevent unauthorized access, reduce the risk of single points of failure, and enhance overall security.

Number of Required Signatures:

· IMMT implements a specific number of required signatures for different types of transactions or actions.

· The exact number of signatures may vary based on the sensitivity and criticality of the operation.

Designated Signatories:

· IMMT identifies and designates specific signatories who have the authority to provide the required signatures.

· These signatories are typically key individuals or entities with a high level of trust and responsibility within the IMMT ecosystem.

Approval Process:

· When a transaction or action requires multisig approval, the designated signatories must independently review and approve the operation.

· Each signatory is required to sign the transaction using their private key or authorized credentials.

Verification and Consensus:

· The multisig system validates and verifies the signatures provided by the designated signatories.

· Consensus is reached when the required number of valid signatures is obtained, ensuring the transaction's integrity.

Transaction Execution:

· Once the required number of signatures is obtained, the transaction or action is executed on the IMMT platform.

· This ensures that critical operations are authorized by multiple trusted parties, adding an additional layer of security and accountability.

Use Cases:

· Examples of operations that may require multisig approval within IMMT include large fund transfers, protocol upgrades, changes to smart contracts, or significant changes to platform parameters.

Security and Control:

· The multisig mechanism enhances security by preventing unauthorized access and reducing the risk of malicious actions.

· It also provides increased control over critical operations, ensuring that they are approved and executed by multiple trusted parties.

It's important to note that the specific implementation details of the multisignature mechanism may vary based on the technical architecture and design choices made by IMMT.