Introducing: Multi-Safe Organizations and Our Official Bid as Your Crypto Accounting Tool

TL;DR: Now, organizations on Utopia can comprise more than one Gnosis Safe, consolidate their Safes’ transactions into a single source-of-truth, and more easily facilitate their accounting processes. Try it out, or learn more.

What are multi-Safe organizations?

Historically, organizations with multiple Gnosis Safes were not able to relate them on Utopia. Now, they can create an environment that reflects their organization and add multiple Safes to it.

Utopia's product without and with multi-Safe support
Utopia's product without and with multi-Safe support

How do multi-Safe organizations relate to accounting?

Earlier this year, we launched tools that help organizations track transactions for a single Gnosis Safe. Many of our customers, however, have multiple Safes and want to have an active record of all of their Safes’ transactions.

We subsequently made the decision to introduce support for multi-Safe organizations. That is, when an organization has multiple Safes added to it, we automatically consolidate transactions from each one into a single location, making it easier to keep track of financial activity across related Safes.

Transactions from an organization's numerous Safes, consolidated in a single place
Transactions from an organization's numerous Safes, consolidated in a single place

How do you create a multi-Safe organization?

Setting up an organization on Utopia is simple:

  1. Connect your wallet and navigate to ‘Your organizations’. Use the empty state to create a new organization.

  2. Alternatively, you can go to your environment selector and create a new organization there.

Adding Safes to your organization is just simple:

  1. You’ll be prompted to add a Safe that you’re a signer for when you create an organization.

  2. If you’d like to add additional Safes, click the ‘Add safe’ button in ‘Safes’ page of the respective organization. You can request to add Safes you’re not a signer for, or you can add Safes you’re a signer for instantly.

How were multi-Safe organizations designed?

Our solution began with first principles. In recognizing Utopia as a wrapper around Gnosis Safe, we could allow users to add more Safes to that wrapper, create a separate wrapper around multiple Safe wrappers, or do some version of both.

Four options to enable multi-Safe support that we considered
Four options to enable multi-Safe support that we considered

We narrowed our options by contextualizing each option with the following customer insight: some organizations have a core group managing all of their Safes, while others have multiple groups managing a subset of their Safes. That is:

  1. 🚫 We nixed option 1. This option represented Utopia at the time we started to explore multi-Safe support, meaning we identified the very problem we set out to solve from this structure.

  2. 🚫 We nixed option 2. This option would work well for organizations that have a core group managing an organization’s Safes, as they can easily add Safes and aggregate their transactions in a single environment. This approach, however, would not work well for organizations with multiple groups managing their Safes, as they would want more granularity over who has access to each single-Safe wrapper.

  3. ✅ We chose option 3. We ultimately selected this option because it could work for both organizations with a core group and multiple groups managing their Safes. To that end, we suspect we’ll need to continue to evolve this option to streamline the experience for both groups.

  4. 🚫 We nixed option 4. We admittedly discarded this option because option 3 addressed the problem at a lower cost. Still, we anticipate that this option may be one of the iterations we make from option 3.

How will Utopia’s accounting tools evolve?

The vision for our accounting tools begins with helping organizations capture a complete and accurate picture of their crypto assets, liabilities, equities, revenue, and expenses. To that end, the tools we launched earlier this year, multi-Safe organizations, and the ability to track transactions across any wallet (which we plan to release this quarter) serve as milestones toward that vision.

Additionally, we aim to support applications related to financial planning and analysis, as well as build integrations to streamline processes—like tax reporting—that we do not plan to support natively at this time.

Our product vision for accounting broken into 3 verticals: capture, empower, and streamline
Our product vision for accounting broken into 3 verticals: capture, empower, and streamline

We have a starting idea of what our vision entails and how we should prioritize initiatives, but we know our work is better when it’s done in collaboration. If you’re interested in influencing our roadmap and timelines, please schedule some time with me. I’m one of the founding designers at Utopia, and I’m newly leading the team that’s building out our accounting solution. I look forward to hearing from you!

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