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What about Shamir Secret Sharing?
It’s getting some tractions since we don’t expect to see covenants in the near future.

SSS is an interesting approach, and even a weaker redundant seed split (aka "poor man's" SSS) can help secure the backup.

https://blog.bitbox.swiss/en/how-to-keep-your-bitcoin-backup-safe-4-proven-methods-you-should-know/

A downside (e.g., compared to multisig) is, that it only secures your backup at rest. You still need to bring the full backup together and input it into the hww, creating a single point of failure. I'm more bullish on a simple multisig implementation, as this allows to sign a PSBT sequentially, geographically distributed, never all less in one place.

Probably more of an apples/oranges comparison, though... : -)

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On Trezor, you don't need to collect the shares into a one place. You start the recovery process, enter a share and you can move with the Trezor into a location of the 2nd share etc.

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