Product

why do crypto wallets not auto revoke any approvals an hour after a user grants them?

Building FOSS via @frames, /open-frames to help decentralized social win. a16z CSX23. farcasterchannels.com farcaster.id

Have seen metamask and coinbase smart wallet only approve the amount necessary for the transaction

cypherpunk wannabe, engineer working on @frames /open-frames /opencast
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are limited approvals limits per transaction or per lifetime of interaction with the wallet/contract pair?

ERC20 approvals are per contract and the allowance is used up every time an amount is transferred by the contract

E.g. if you approve 100 USDC, a contract will be able to transfer 20 USDC five times before the allowance runs out it has to request approval again

ah that makes sense, thanks! If you don't end up doing the tx you approved for (or it fails) you're still vulnerable though