Allowances on Aptos

[mellis1010]

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

[mellis1010]

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!