Partnered With:

Coinshift: Asset management platform for individuals and DAOs

Read this article in 8 Minutes

Coinshift is an Indian crypto startup that offers a multi-chain money management platform. The platform, which runs on an ETH chain based on the Gnosis security protocol, plans to expand into new blockchain networks, raising $17m in its latest Series A fu

By Ashley, BlockBeats

For individuals, crypto companies, or DAOs who need to manage transactions on different chains, such as cash flow and payroll, it is difficult to integrate these transactions, which often occur on different chains.

Program logic

Coinshift's vision is to provide a cryptocurrency based multi-chain fund management platform for individuals, DAOs, and WEB3 companies. The web page will set some functional parameters, and users can choose to customize the interface according to their own needs.

The Coinshift money management platform has three different options when registering on the official website: individual, DAO and WEB3 company. A cold wallet connection is required after registration. Coinshift does not hold any private keys and must be connected to the wallet before transactions can be signed and executed. Once the account is created, Coinshift encrypts the data using an encryption key created from the private key. You can add colleagues to the list and invite them to securely share encryption keys for collaborative work.

For collaborative working, Coinshift supports three forms: 1-of-N: where only one person in the organization agrees to the deal; 2-2: Two people in the organization must agree to the deal to close the deal; 2/3: Only 2 out of 3 people need to approve the deal.

Open Coinshift, and you'll see a clean, concise page showing your money movements, with different categories on the left side, as well as four main features.

1. Payment: One-click payment to personnel and teams, able to reduce GAS charges by 50% through one-click processing. In addition, after payment, the payee can use the income to trade immediately. After investment in DeFi, the payee can also get compound interest immediately.

2. Personnel: Free management of team and personnel.

3. Trading: Paraswap allows you to trade your virtual currency. There is a quick transfer function in the upper right corner that allows users to make direct transfers to other accounts. Currently, the platform supports transactions of DAI, ETH, USDC, USDT and ERC-20 Tokens.

4. Transaction: All detailed transaction information, and can export transaction data.

· At the personal level, trading information can be directly managed.

· At the DAO level, members of the organization can manage the movement of donation funds.

· At the WEB3 company level, large-scale salary and cash flow management can be carried out for employees, and cooperation with team members in decision-making can be carried out.

When performing multiple signatures, you can set how many members need to approve/reject transactions to reach the trigger threshold. Once the threshold is reached, all signatories can execute transactions directly on the blockchain.

Coinshift V2 is currently in development, focusing on asset management: enriching user asset allocation using strategies such as income aggregators (aggregators), AMM pools, DeFi index funds, etc.

Risk assessment: provide risk score reports based on on-chain transaction data of users, and recommend asset allocation strategies based on risk preference.

Founding team

Tarun Gupta | CEO

Tarun Gupta is the founder and CEO of Coinshift. Before Coinshift, he founded Parcel, a crypto infrastructure company in the U.S. in 2020. Parcel secured a $2.5 million angel round of funding, which was limited to bulk payroll payments to DAO, grants and airdrops. Before moving to the US, Tarun Gupta founded two cryptowallet companies in India between 2017 and 2020: Vevsa Technologies and Coinsafe. He has rich experience in native encryption technology development and strong company management and innovation ability.

Financing situation

On May 17, 2022, the $17 million Series A round was led by Tiger Global. Sequoia Capital India, Alameda Ventures, Spartan Group, Ethereal Ventures, Polygon Studios, etc.

In September 2021, it announced a $2.5 million seed round with sequoia India, Weekend Fund, ConsenSys Mesh and others participating.