A place for talking about the Ethereum Virtual Machine on Farcaster.

Token Approvals are one of the most annoying UX flows in EVM today

But the worst part is not even the extra step when transacting

The approval lives indefinitely and most of the times is unlimited

It’s both a short term nuisance AND a long term problem for users

I believe there have been attempts at new standards, but never really go traction? Making it A LOT easier to revoke directly from your wallet, incl. auto reminders, could be a huge win imo..

Events @Ethereum 🦄 Indie Hacker 🛠️

Ideally this is fixed at the token level but we are too late for that

Right now we must fix this at the account level with Smart Accounts abstracting approvals to be granular and revoked after action is taken

I believe there have been attempts at new standards, but never really go traction? Making it A LOT easier to revoke directly from your wallet, incl. auto reminders, could be a huge win imo..

https://x.com/wslyvh/status/1736352418512712111

It is jarring, but tbh I don’t really mind it…

ERC-777 is one alternative to ERC-20 but I believe its safe to say that initiative is dead now

We can only fix by abstracting transaction batching with Smart Accounts

I wonder if there is a way to redesign the ERC-20 that gives the same auth process without costing GAS and providing another address with unlimited access?

Permit pattern is a solid solution here. Still requires an additional signature, but no extra gas cost, and the approval is inherently transient