The Two Faces of ERC-2612 AKA Permit
Blog iconomnifient
Nov 15
May I introduce you to ERC-2612? Permit. Maybe you’ve heard of it?The ProblemTLDR: ERC20 transfers require a spending approval transaction, which is costly (I just paid $5.33 in ETH for one, argh!). This is no bueno, mi famiglia, s'il vous plait.How can we avoid this?Option A) The most common pattern is to ask the user to approve a transaction of unlimited spending amount. This lets the contract just spend away! If you’re feeling uneasy about it, you should, ‘cause many have seen their w...

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