Key takeaways 

• Squads transactions rely on multiple on-chain accounts which require rent.

• With Rent Reclaim, you can now reclaim these deposits, making Squads transactions more cost effective.

Introducing Rent Reclaim

Squads transactions are asynchronous, with transaction creation, approval, and execution split into separate steps. To support this asynchronous process, Squads creates multiple on-chain accounts that require rent (an upfront deposit paid in SOL). This makes Squads transactions slightly more expensive than transactions made through traditional wallets such as Phantom.

With Rent Reclaim, you can now close on-chain accounts and reclaim the associated rent as soon as a transaction enters a finalized state (executed, canceled, rejected), making Squads transactions more cost-effective.

Once reclaimed, all transaction history will still be available and auditable via Solana's ledger and block explorers.

Enable Rent Reclaim now on the Settings page of your Squads account or head over to our docs to learn more on how to turn on Rent Reclaim. 

About Squads Labs

Squads Labs is a core contributor to Squads Protocol, the leading multisig infrastructure on Solana. In addition to helping maintain the protocol, Squads Labs makes the Squads platform, an institutional-grade multisig platform for Solana-based teams. The Squads platform helps web3-native teams manage and secure digital assets on-chain. To learn more about Squads Labs, please visit https://www.sqds.io/.

About Squads Protocol

Squads is a multisig protocol that helps web3-native teams manage and secure digital assets on-chain. Squads Protocol v3 is the first formally verified program on Solana. Squads Protocol v4 introduces time locks, spending limits, roles, sub-accounts, fee relayers, multiple-party payments, support for SquadsX and more. Squads v4 has already been audited by Neodyme, OtterSec, and Trail of Bits. It is currently undergoing two formal verifications, one by OtterSec and the other by Certora. To learn more about Squads Protocol, please visit https://squads.so/protocol