Tags: [[Permits]] [[Security]] [[EIP2612]] **This doc is sum up of EIP 2612 and overview of [[Permits]]** ## Intro Approve message to allow dApp to spend token. This is a human readable signatures instead of normal signatures which are just a bunch of binary data (readeable by computers). > 712 can be used without 2612 712 defines a format for signatures 2612 defines a smart contract interface # [[Simple-explanantion]] ELI5 explanation: Permits are permissions that sends the approve tx to allow dApp to use / spend your tokens. Example: Uniswap asks you for using DAI in order to swap DAI for some other token. # [[Fuctions]] This ERC proposes an alternative solution which is designed to be as minimal as possible and to only address _one problem_: the lack of abstraction in the ERC-20 `approve` method. While it may be tempting to introduce `*_by_signature` counterparts for every ERC-20 function, they are intentionally left out of this ERC-20 for two reasons: - the desired specifics of such functions, such as decision regarding fees for `transfer_by_signature`, possible batching algorithms, varies depending on the use case, and, - they can be implemented using a combination of `permit` and additional helper contracts without loss of generality. Discussion regarding this standard: https://github.com/ethereum/EIPs/issues/2613 Full implementation: https://eips.ethereum.org/EIPS/eip-2612