Integration: Permit2 from UniSwap

Greetings!

Dubai, UAE, 15th November 2023, The Kineetx development team is thrilled to announce the second integration of Kinetex Network as it integrated Uniswap’s Permit2 into Multi-chain Gasless, making it even easier and faster to swap crypto assets using the Kinetex widget.

Uniswap Labs has been working towards implementing the permit method suggested in EIP-2612 for all tokens, including those that do not support it. To achieve this, they developed Permit2, a token approval contract that provides users with a more user-friendly, flexible, and secure experience.

Permit2 allows you to interact with contracts without worrying about extra gas costs. By granting infinite approval for a token to the Permit2 contract, you can easily permit other contracts to use it, eliminating the need for confusing and time-consuming approval transactions. It offers users greater flexibility when working with many different crypto assets, for example, while managing a portfolio.

Moreover, Permit2 prioritizes the security of users by enabling you to issue permission for a limited number of tokens instead of allowing access to your wallet’s entire token balance. Such an approach limits security concerns regarding unauthorized use of approvals.

Kinetex users who previously approved tokens in Permit2 can now use it to swap crypto assets without approval via the Kinetex contract. Otherwise, you can always use the Multi-chain Gasless solution for the EIP-2612 tokens or wait for the upcoming Universal Gas version.

Kinetex Network: Website | Kinetex dApp | Twitter | Blog | YouTube

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Blockchain News Site journalist was involved in the writing and production of this article.

blockchainnewssite_3zh0fn