Allowances on Aptos

[mellis0303]

Hello,

I am trying to figure out what the best practices are for implementing an allowance function for my Fungible Asset coin--basically similar to ERC-20 allowances where you can give permissions to an exchange or other 3rd party to spend/move your coin on your behalf. How would that be implemented on Aptos? Thank you!!

[MoonShiesty]

basically similar to ERC-20 allowances where you can give permissions to an exchange or other 3rd party to spend/move your coin on your behalf. How would that be implemented on Aptos? Thank you!!

you can do this through a custom smart contract, i dont believe a standard for this exists right now on aptos

if you wanted to use standard framework calls, you could transfer the "allowance" to a new 1/n multisig account, and add/remove a third parties from the multisig to give access to the shared balance, although i dont think this approach would allow you to give each third-party a separate spending limit

[mellis0303]

Interesting. I was thinking something similar, or perhaps utilizing a shared object that has like permission capabilities applied to it that dictates the amount of the balance that each party has control over? Not really sure, was just trying to see if there were any existing solutions for allowances (like dealing with exchanges) that are currently in use. Thanks for the suggestion tho!

[alyssaponzo]

hey @mellis1010 ! we're releasing a combination of things that might be helpful to you in release v1.26 - you can read more in the AIP for Permissioned Signer (https://github.com/aptos-foundation/AIPs/blob/main/aips/aip-103.md). We believe this, when combined with account abstraction (also in v1.26), can be used to do things like allowances, scheduled transactions, and more. Would love to hear more about your use case to see if we can support more directly. Can you say more about what you're building?

[runtian-zhou]

To be specific, the permissioned signer allowed one to specify how much each type of Fungible Asset can be withdrawed from each signer. In this sense, you can set up allowance by creating a permissioned signer prior to, say call a defi protocol and then use that signer to invoke that protocol. Aptos framework will make sure the txn will be aborted if the protocol tried to draft more FA then specified.