What Am I Authorizing?

What Are You Authorizing in This Step?

Authorizing the Seamless Key to interact with MYX smart contracts. You are authorizing:1. USDC Permit for Trading:

• Allowing MYX to transfer USDC as collateral from your Master wallet for an amount specified by you when you call MYX contract to open a position.

• This is enabled by an ERC20 Permit

2. Enabling Your Seamless Key:

• Granting the Seamless Key the ability to execute trades on your behalf through the MYX trading contract. Why Is This Necessary?

1. To Enable Trading:

• The Seamless Key acts as your delegated trader, eliminating the need for manual confirmations for every trade.

1. To Maintain Security:

• The authorization is limited to trading functions and does not provide direct access to your assets, which remain securely stored in your Master wallet.

1. Limited USDC Authorization:

• The authorization applies only to a specific amount for collateral and cannot be used for any other purpose.

How Is Security Ensured?

1. Non-Custodial Design:

• The Seamless Key does not hold any assets, and all transactions must be approved via the MYX smart contract.

2.Revocable Permissions:

• You can revoke the Seamless Key’s authorization at any time from your Master wallet.

3.Gas-Free Authorization:

•The signing process is gas-free, with fees sponsored by MYX’s relayer, ensuring ease of use without compromising security.

By authorizing this interaction, you are empowering the Seamless Key to provide a fluid and secure trading experience, seamlessly bridging usability with decentralization.