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

building farcaster | surfing @ venice, ca | eating @ gjusta / gjelina | “lucky me, lucky mud” 🤠

Idea: Approve & Lock

ERC20.approveAndLock(address _spender, uint256 _value, uint256 _timeout)

Instead of sending 25 USDC to @ted back and forth three times for the poker buy-in (because I keep placing 2nd and getting it back lol), we could just commit to allow @ted to withdraw up to 25 USDC from my wallet and lock it up for the timeout duration.

This could also be used to implement recurring payments, or gas station style "maximum hold" to spend.

Bonus:
- Avoids taxable disposition event if the back-and-forth is avoided.
- Includes a timeout on approval, so we don't get a situation where we leave a bunch of approvals forever until the approved contract gets hacked and steals the funds.
- Locks the minimum value, so recipient is guaranteed that it is available until the timeout (no concerns of missing balance like regular approvals).

A doodler and computerer. I like permissive/permissionless open source, smart contracts, p2p systems, room-scale VR, and NixOS.

shazow.net

Currently: WhatsABI

and i’ll do a true tournament next time 😅