A permit signature is an off-chain cryptographic signature that authorizes a third party to spend a user’s ERC-20 tokens without requiring an on-chain approval transaction. This mechanism allows users to grant token spending allowances more efficiently by signing a message with their private key, which a relayer then submits to the blockchain. It significantly reduces gas fees and improves user experience by streamlining interactions with decentralized applications. The permit signature functionality is a direct outcome of EIP-2612, enhancing the flexibility of ERC-20 token usage.
Context
Permit signatures are a notable advancement in the Ethereum ecosystem, often featured in news regarding gas fee optimization and user experience improvements in DeFi. Their adoption by various protocols is a key development for increasing the accessibility and efficiency of decentralized financial services. The security implications of off-chain signing and the reliance on relayers remain important considerations for users and developers.
We use cookies to personalize content and marketing, and to analyze our traffic. This helps us maintain the quality of our free resources. manage your preferences below.
Detailed Cookie Preferences
This helps support our free resources through personalized marketing efforts and promotions.
Analytics cookies help us understand how visitors interact with our website, improving user experience and website performance.
Personalization cookies enable us to customize the content and features of our site based on your interactions, offering a more tailored experience.
