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An Oracle will be required to enable the use of FIO Requests, e.g. sent to vault@somedefi, to withdraw the funds. Since using an Oracle, especially centralized, introduces security risks, a decentralized oracle solution is recommended. See Enable FIO Token and Domain NFT wrapping for more details on oracle solutions being considered.
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Some may see similarities between such standard and Ricardian Contracts, which were primarily designed to communicate smart contract logic to users using familiar contractual language. Even though, user-friendly text may be returned as part of this standard, the primary objective is to allow wallets to more easily support smart-contract interactions.
Idea 4: Request for signature
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This could be used by DeFi dApps to send a signature request for interaction with the dApp (approve ERC-20 token withdrawawithdrawal, etc.) to the wallet.
See See Request for Signature