Koshance: Simplifying Web3 Finance
Robust security, precise access controls, and seamless operations.
Web3 apps are fast arriving on the scene. Everyone's talking about how trustless systems and digital money are the future. Entrepreneurs are working on game-changing ideas powering killer apps and services. In this journey, they get weighed down by the operational overhead of working in a nascent industry and the lack of services and tools to simplify their workflow.
We've spoken to dozens of Web3 founders to unravel what challenges they face. Issues range from managing multiple wallets to keeping track of transactions across multiple chains. Even the monthly exercise of annotating each transaction for reporting. The time spent on these tasks could easily be used for more productive endeavors.
Koshance changes this by helping teams manage their financial operations in a secure and user-friendly manner. Think of us as the operations manager you never had, who allows you to focus on what matters: your core business.
Securely Manage Your Financial Operations
Koshance is a crypto finance management platform that consolidates all your existing EOAs, safes, and exchange accounts in one place. We ensure security while keeping your assets accessible for daily operations. Additionally, we provide MPC-based accounts that offer robust security and smooth account recovery. Koshance streamlines financial operations and portfolio monitoring to help teams function efficiently at scale.
Easy Onboarding
Koshance is designed for ease of use. Within minutes, you can add accounts, set up your dashboard, and configure access controls.
Enhanced Security
Create accounts that leverage Multi-Party Computation (MPC) technology, ensuring robust security while simplifying key management.
Threshold Signature Scheme (TSS): TSS divides the cryptographic key into multiple 'shards'. A predetermined number of these shards are needed for authorisation to sign a transaction. This method enhances security by necessitating multiple distributed key portions for any action.
Seedless Accounts Minimise Risks: MPC technology eliminates the need for seed phrases. By using a distributed key generation mechanism, private key shards are created across different devices. This ensures users don't have to remember seed phrases, and even if a shard is lost, it can be regenerated.
Efficient Recovery Mechanisms: Leveraging MPC’s resilience with pre-configured authentication methods, recovering lost shards, or replacing devices is straightforward. So, even if things go wrong, you have a secure and seamless way back into your account.
Unified Accounts
Effortlessly integrate existing accounts ranging from popular solutions like Gnosis Safe to major exchanges. Say goodbye to the hassle of juggling multiple platforms.
Consolidated View: Get a comprehensive overview of all your assets in one place. No need to switch between multiple apps to monitor balances or to track transactions.
Efficient Management: Execute transfers, swaps, and other operations efficiently from one dashboard. Whether you're making a trade or interacting with a contract via Gnosis Safe, Koshance simplifies it all.
Enhanced Security: Limiting the platforms and interfaces you engage with reduces the surface attack vector.
Informed Decision Making: With a holistic view of your organization's finances, you can assess trends better, gauge your portfolio's health, and strategize your next moves with confidence.
Policy Controls
Koshance offers you advanced policy controls designed to match the operational needs of Web3 teams.
Role-Based Access: You can delegate tasks based on individual roles. For instance, team members can initiate transactions, but the verification and signing can be exclusive for senior members.
Granular Transaction Permissions: Determine who can send what assets and up to what value. For instance, allow certain individuals to execute transactions below a particular threshold without needing higher-level approvals, ensuring faster turnaround time for routine transactions.
Daily Transaction Limits: You can set daily caps on team spends.
Asset/Network-Specific Rules: Set tailored rules for specific assets and networks. You could restrict transactions on specific networks or limit the transfer of particular cryptocurrencies.
IP-Based Restrictions: For added security, you can configure to allow transactions originating from whitelisted IPs.
MFA for Approvals
Double Up on Security using Multi-Factor Authentication (MFA). It introduces another step for transaction verification. So, even if your password is compromised, the malicious actor can’t steal your funds.
Comprehensive Reports
Maintain detailed and organised records of all transactions, ensuring a transparent and accountable system.
Tagging: Easily categorize transactions using tags. Whether it's for monthly expenses, specific projects, or investments, tagging ensures you can identify and classify transactions, allowing teams to manage their cost headers.
Add Remarks: Context matters. With the ability to add remarks, team members can provide additional details or reasons for a particular transaction, ensuring everyone's on the same page.
Track Initiators and Approvers: Know who's taking action. For every transaction, see who initiated and approved it.
Export Comprehensive Reports: Export detailed reports of transactions for accounting and taxation purposes.
Streamlined Transactions
Eliminate the unnecessary friction teams often face while managing their financial operations
Transaction Fees: Koshance takes care of transaction fees on all major networks. Never worry again about recharging your wallets or bridging tokens to pay the gas fee.
Bulk Payments: From payroll to vendor settlements, process multiple transactions in one go, saving time and reducing manual errors.
Scheduled Transactions: Put Your Operations on Autopilot. Whether it's for a planned investment, monthly dues, or other financial commitments, schedule them in advance. Recurring transactions are a breeze with Koshance.
Updates & Notifications
Never miss an important transaction or account activity with our notification system.
In-app updates: Get real-time updates within the platform. Whether it's a transaction completion or any critical activity on account, you'll always be informed.
Emails for actions: Receive email notifications for key actions such as funds transfers or transactions awaiting approval.
Slack and Discord notifications: Easily integrate with your team’s Slack or Discord channels, ensuring you receive timely updates on the platforms your team already uses, enhancing communication and response time.
We're not stopping here. We aim to provide a seamless, all-encompassing financial operations platform for Web3 founders. We strive to make every interaction as frictionless as possible. Our platform is designed to accommodate treasuries of all sizes, giving you the flexibility to manage your financial operations effortlessly.
We understand the complexities of the Web3 world. Koshance is built by builders, for builders. Our private beta version is now live, showcasing its capabilities with a select set of features for you to explore.
If you are interested in trying our product or learning more about Koshance to simplify your financial operations, feel free to contact us or follow us on X. We'd love to hear from you.