HackMD
New WETH Spec
Repo: https://github.com/ERC4626-Alliance/WETHPlus
WETH+
Is ERC-20, ERC-2612, ERC-4626, ERC-7535: Native ETH ERC-4626, ERC-7550: Transient ERC-20 Approvals, and backward compatible with weth9
It will also have a convenience method withdrawAll(address receiver, address owner) and a payable receive function which wraps deposit().
WETH Upgrade Router
The WETH upgrade router allows for conversion from native ETH or WETH9 to WETH+ along with the following patterns:
- max approve of permit2 atomically upon upgrade
- support of existing permit2 WETH9 approvals
- question, should the router allowance transfer and/or signedTransfer
Out of Scope and Rationale
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implementation in huff or assembly: gas savings on this level are not worth the tradeoffs of code legibility and security
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flash loanable: maybe, but probably unnecessary as higher layer protocols can add flash loans
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EIP-3009: Stagnant and functionally replaced by Permit2
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Built in max approval of permit2: Antipattern to auto max approve a specific contract, transient approve makes this relatively unnecessary. The WETH Upgrade Router will also allow for an atomic depositAndApprove of Permit2
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built-in migration from weth9: antipattern due to differences across multiple chains. Will be added at router layer as well
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There is no fallback function and calls to the fallback function will revert to protect against phantom method vulnerabilities.
Future Work
- Permit2 Enhancement with message signing for transient erc-20 approval and 4626 flows (deposit, withdraw, mint, redeem, requestDeposit, requestRedeem)
- Message signing for ERC-4626
