Permit2 and Universal Router were initially designed to enhance their goods by reducing gas costs, streamlining user transaction flows, and boosting security. However, they understood that merging these contracts would have a significant positive impact on other applications at a time.
New Smart Contracts
Two new smart contracts were issued by Uniswap Labs last week:
- Permit2 enables token approvals to be shared and handled across several applications, resulting in a more seamless, cost-effective, and secure user experience.
- ERC20 and NFT switching combines the Universal Router into a single swap router. Users can swap many tokens and NFTs in a single swap while saving on gas costs with Permit2’s integration.
About Permit2
Across Ethereum, Optimism, Arbitrum, Polygon, and Celo, the same address has been used to deploy the non-upgradable, unowned, open-source Permit 2 contract.
They had also started a bug bounty program for the Permit 2 contracts as part of their smart contract development requirements. At the moment, Permit 2 only accepts ERC20 tokens. Soon, Uniswap Labs will release a version for NFTs.
About Universal Router
A non-upgradable, unowned, open-source contract called The Universal Router has been implemented on Ethereum, Optimism, Arbitrum, Polygon, and Celo. Like Permit2, they are maintaining the highest security requirements for Uniswap contracts by operating a bug reward program.
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