A new tech update from Uniswap,Permit2, allows for token approvals to be shared and managed across different applications, creating a more unified, cost-efficient, and safer UX.
When a user needs to perform trading actions with ERC-20 tokens, they need to send a transaction first to authorize the protocol to access a certain amount of the user's tokens. Additionally, it is common to use 'approve max', which could potentially carry risks in blockchain.
The user only needs to authorize the transaction once to Permit2 contract. Then, when using an integrated protocol, the token can be used with only a signature within a certain time limit. Now that Uniswap has integrated this mechanism, the user experience has become more seamless and safer. However, any new protocol still requires a new signature, and the number of protocols that use Permit2 is still limited.
Protocolink + Permit2 ✨
By combining Protocolink with Permit2 it will greatly improve the user experience and safety. This is achieved through only requiring one signature (also time-limited), and directly using the token to any contract. In addition, Protocolink does not retain user assets, further enhancing the experience of using the wallet.