What if smart wallets had keys with different auth levels? 

1. A root key, which can do anything, which lives in your fav wallet
2. An FC key, which can only interact with FC contracts, which lives in Warpcast 

Is there a standard for something like this?

this stuff is still very early but

1) https://eip.tools/eip/7710
2)

Technowatermelon. Elder Millenial. Building Farcaster. 

nf.td/varun

this stuff is still very early but

1) https://eip.tools/eip/7710
2) https://github.com/metamask/delegation-framework