Tags: [[Permits]] [[Security]] [[EIP2612]]
**This doc is sum up of EIP 2612 and overview of [[Permits]]**
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
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.
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