It's really very easy, and you never even need to connect your wallet to an app! Please see this article for instructions, which includes a two minute video with everything you need to know.
Nothing. Nada. Zilch.
The EPS register cannot touch your tokens.
Creating a register entry grants EPS no special privileges.
EPS doesn't need any authorities or approvals.
You don't need to sign any messages from EPS to setup a register entry - you just need to do two ERC20 transfers from within your own wallet.
The smart stuff is all read-only. EPS allows smart contracts and apps to verify that you hold assets in your COLD wallet without ever having to go near your cold wallet.
It means you don't have to connect the wallet holding your wassie to a website or dapp in order to prove you own a wassie.
This means you can interact with a HOT wallet that just has a small amount of ETH in it. No website or app that you connect with using your hot can touch the assets safely snugged up in your cold wallet.
No (although they are a good idea!).
You just need two different wallet addresses. One which you will use as your cold address (valuable stuff lives here, you don't connect it to things). And another which is your hot wallet (just has some ETH for gas, nothing valuable). This is the wallet that you connect to apps with.
When those apps use EPS they see your connected hot wallet with 0.0231 ETH. And they also behold your mighty ape / penguin / wassie holding resting in your cold wallet (which the app cannot touch). They then grant you access to all the cool stuff that you can only do when you hold an ape / penguin / wassie.
Important: With EPS you do not need to wave your cold wallet assets around in public to prove you own them. Keep them safely away from the world, but still benefit from them.
We hope to grow the network as quickly as possible! See here for a list of projects implementing EPS.
Please see our tech docs at docs.eternalproxy.com, or reach out to us, or both.
In many cases moving to EPS can be as simple as a single library import and replacing one line of code. Wild right?
Ask your project leaders if they value the safety of your assets. 'Cos, they do, right? Then they need to consider EPS. Hassle them to check out this site and read the FAQ answer above ^.
Go touch grass fren. Feels good to sign messages without worrying about losing those assets, right? Pass that good feeling on, do something good. Like telling your friends to get on EPS ;).
Gotta have some vices. Inconsistent capitalization is mine.