The founder of blockchain data platform DefiLlama, 0xngmi, announced on Monday (5th) the creation of a blockchain tool called “SmolRefuel”. This tool allows users to obtain ETH through an exchange transaction on the platform when their wallet lacks sufficient ether to pay for gas fees.
The goal of SmolRefuel is to solve the problem of not being able to use other tokens due to the lack of gas fees, such as ETH. According to 0xngmi, once users complete an authorization signature (Permit), an automated program will submit the authorization to withdraw user funds, execute token exchange, and send ETH to the user.
0xngmi stated that SmolRefuel only supports tokens that support Permit, and most tokens should be usable, although some tokens do not support it, especially older tokens. Currently, the platform supports the Ethereum mainnet, several EVM-compatible chains, and the Ethereum Layer 2 network.
Some users are concerned that SmolRefuel may expose their wallets to the risk of being hacked. Therefore, 0xngmi also mentioned a few points about the security of SmolRefuel:
– The smart contract will enforce the complete consumption of the Permit approval, leaving no approvals behind.
– If the transaction is not executed or rolled back, the signature will expire after 1 hour.
– The team will limit the value of exchanges to less than $1,000, ensuring that transaction amounts are always small.
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