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Treasury accounts are special purpose wallets that exist as smart contracts built directly on the blockchain to receive and distribute funds to multiple parties as per set revenue distribution.
Built on Open Source
Treasury accounts by MetaKeep are built on industry leading Gnosis Safe contracts which have been thoroughly externally audited.
While Developer Wallets are owned by Developers and can hold and distribute funds of their own company, treasury accounts shine through for acting as a joint business account between multiple parties, eliminating the requirement of a trusted party to do the accounting right.
These accounts are burned immutably on to the chain as smart contracts and neither the developers nor MetaKeep can tamper with the Funds that are flowing in, or flowing out.
To setup a treasury account, the developers setup a revenue distribution plan. For example, say a developer D is a platform for connecting brand B and end-users, with an agreement that D receives 5% of revenue on each transaction they facilitate. Developer formalizes this revenue share by setting up a Treasury account with the brand that specifies that "on cash-out, 95% of funds should go to B and 5% going to A", and shares the treasury account as the receiver of all funds.
This dramatically simplifies accounting and correctness liabilities on developers, as all transactions related to brand B facilitated by D are transparently visible for any interested party to audit on the chain.
The only operation permitted on Treasury accounts by developers who set them up is "cash-out". On cash out, the crypto currency accrued (ex: USDC, or ETH, or BTC) are distributed out as per the pre-set distribution (95%-5%).
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