Manage your transaction policies

Creating strong policy rules is a vital step in maintaining control over your transaction outflows. Owner and admin can set the policies rules, such as whitelisting addresses to prevent unauthorised transactions and setting spending limits for both the entire wallet and individual transactions.

Set Minimum Approval

Minimum approval feature allows the owner to set a minimum approval threshold, called a quorum, which must be met before any policy changes can be made. For instance, if you choose a "2 of 3" configuration, it means that at least two admin must approve the policy change for it to take effect.

To configure the Minimum Approval, simply go to your settings, navigate to the Policy Management section, and click on "Edit."
Here, you'll find a list of available approvers, including both the owner and admins. You can then select the desired approval configuration, specifying the minimum number of approvals needed from administrators to authorize policy changes.

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Important note:

If you update the Minimum Approval configuration, any pending policy change requests will be automatically rejected. This ensures that your policies remain consistent with your organization's needs while maintaining a high level of security and compliance.

Approve Policy Changes

When the owner has set a minimum approval requirement greater than 1, another administrator will need to review and approve the policy, as per the configuration. Here are the steps to approve the policy:

  1. Admins need to log in to the system using your credentials.
  2. Once logged in, navigate to your dashboard. Within the "Pending Actions" section, you should see the policy approval request that requires your action.

  1. Locate the specific policy request and click on the "Approve" button associated with it.
  2. Follow the on-screen prompts and instructions to complete the approval process.
  3. After successfully approving the policy, the system will update the policy's status accordingly, and the policy changes will be implemented as per the configuration.

By following these steps, you contribute to the approval process, ensuring that policies are reviewed and approved by the required number of administrators, as set by the owner. This collaborative approach enhances security and compliance within the policy management system.