Change Owner
The Change Owner feature allows the multisig account to transfer ownership of a smart contract to another authorized address. This is typically used during organizational restructuring, admin rotation, leadership changes, or when shifting operational responsibility to a new controlling entity. Like all critical operations, this function is fully secured by the multisignature approval mechanism to ensure trusted and collective decision-making.
1️⃣ Select Change Owner
Select the Change Owner option under Transaction Type.
By choosing this option, you are preparing a governance-level transaction that will reassign contract ownership. This is a highly sensitive action because the contract owner typically holds privileged permissions such as configuration control, upgrade authority, or administrative capabilities.
Common use scenarios include:
Business or team restructuring
Transferring ownership to another department or administrator
Security rotation or access management changes
2️⃣ Enter Contract Address
Provide the contract address of the smart contract whose ownership you intend to transfer.
This ensures the system correctly identifies which contract will be affected. The address must be accurate, as the change will be applied directly to the referenced contract.
This step ensures:
Correct ownership target
Prevention of accidental reassignment
Transparency and traceability
3️⃣ Enter New Owner Address
Input the new owner’s wallet address that will receive contract ownership rights.
This address will become the new contract administrator immediately after execution. It is recommended to verify the address carefully before submission to avoid misdirection of ownership.
This step:
Assigns new administrative authority
Ensures controlled ownership transition
Supports governance alignment
4️⃣ Add Remarks (Optional)
You may include a short remark or description explaining the reason for the ownership change.
Remarks are useful for:
Audit reference
Governance documentation
Organizational approval clarity
Examples:
“Transfer to new admin team”
“Ownership migration to security ops”
5️⃣ Create Transaction
Click Create Transaction to generate the ownership change proposal.
Important notes:
The ownership transfer does NOT happen immediately
A proposal is created first
Other authorized signers must approve or reject
Ownership is updated only after required approvals are collected
This ensures strong, policy-driven governance control.
6️⃣ Confirm Transaction Creation
A confirmation prompt will appear asking you to verify your intent.
Click Create Now to finalize.
Once confirmed:
The proposal is officially recorded
It appears in Pending Proposals
Signers can review and approve
After approvals meet the threshold → Ownership transfer executes
The new owner becomes active
This final confirmation prevents accidental submissions and reinforces secure operational decisions.
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