Introduction to Wallet Security and Revoking Smart Contract Permissions

What you’ll learn?

• Importance of revoking smart contract approvals proactively and regularly to protect your soft wallet from security exploits.
• Disconnecting your wallet from decentralized applications and websites after each use to minimize exposure.
• Using wallets like Rabbi that have built-in revoke approvals functionality to easily manage and revoke contract approvals.
• Checking the contract trust value and revoking approvals for contracts with low trust values.
• Using third-party tools like Revoke.cash to revoke contract approvals if your wallet doesn’t have built-in functionality.
• Disconnecting your wallet from sites like Uniswap and Jupiter immediately after trading.
• Removing all connected sites from your MetaMask wallet for maximum protection.
• Being an early adopter of new experimental wallets to potentially benefit from future airdrops.

Content Chapters

0:00 Soft wallet security considerations: smart contract exploits and revoking approvals
0:30 Rabbi wallet features: revoke approvals, gas top-up, and dynamic gas rates
1:22 Revoking contract approvals in Rabbi wallet
3:55 Other popular wallets: Coinbase and Backpack
4:52 Using Revoke.cash for wallets without built-in revoke functionality
6:01 Checking approvals on OpenSea and Etherscan
6:37 Disconnecting wallets from decentralized applications after use
6:59 Removing connected sites from MetaMask for maximum protection
7:44 Recap of key points for protecting your soft wallet while trading on-chain