The founder of blockchain data platform DefiLlama, 0xngmi, announced on Monday (5th) the creation of a blockchain tool called “SmolRefuel”, which allows users to obtain ETH through an exchange transaction on the platform when their wallet lacks ETH 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 for tokens such as ETH. According to 0xngmi, after users complete an authorization signature (Permit), an automated program will submit the authorization to withdraw user funds, execute token exchanges, and send ETH to the user.
0xngmi stated that SmolRefuel only supports tokens that support Permit, and most tokens should be usable, but some tokens do not support it, especially older tokens. The platform currently supports the Ethereum mainnet, as well as several EVM-compatible chains and Ethereum Layer 2 networks.
Some users are concerned that SmolRefuel may expose their wallets to the risk of hacking. Therefore, 0xngmi also mentioned a few points about the security of SmolRefuel:
– The smart contract will enforce the complete consumption of the Permit approval, so there will be no approvals left afterwards.
– 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 below $1,000 to ensure that transaction amounts are always small.
