Le Petit Bellatrix

Phantom Wallet Spending Limits and Transaction Approvals: Reducing Exploit Risk on DApps

A user connects their Phantom wallet to a decentralized finance protocol to stake tokens, provide liquidity, or participate in a governance vote. The application requests permission to spend the user’s tokens—not immediately, but on an ongoing basis. If that user approves the maximum possible amount without thinking carefully, and the smart contract is later compromised […]