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Longform Writeup

https://0xfoobar.substack.com/p/batch-transactions-for-eoas

TLDR:

Batch txs fix stale approval attacks (which have swept $100m+ from retail)
Batch txs reduce developer overhead
Batch txs reduce state growth
Batch txs remove trusted intermediaries
EOAs are 90%+ of current addresses, must improve default experience

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Batch Txs Fix Stale Approval Attacks

Approvals are good for longstanding orderbooks (Opensea ask).

Approvals are bad/dangerous for simple protocol deposits (Uniswap swap).

Three prominent stale approval attacks in last 30 days alone:

Dec 17: First NFTTrader was hit for 50 apes + mutants on a contract nearly two years old
Dec 18: Then Floor Protocol saw 40 penguins drained, plus more apes and azukis
Jan 16: Bungee/Socket bridge hit for another $5 million

None of these protocols or users wanted longstanding approvals. It was just the path of least resistance because queueing up 3+ txs is a UX headache.

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Batch Txs Improve Protocol UX

I am the founder behind Delegate, tooling that lets users keep assets in a cold wallet while still accessing utility (airdrops, access, governance) from a hot wallet. Securing ~$900 million of NFTs today.

Primary push behind v1 -> v2 upgrade was adding in a simple `multicall()` function

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Batch Txs Reduce State Growth

Fewer txs floating around in the mempool

Fewer onchain signature verification ops that add ~21k gas overhead each time

Pseudo-1559 benefits come from users expressing batched gas preference instead of sequential tx gas pricing

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Batch Txs Remove Trusted Intermediaries

Private relays can unbundle today

Reputation-as-collateral is a pseudo-permissioning system, limits new entrants

Enforcing batch txs at protocol layer removes this attack vector

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EIP Comparison