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+Before we supported volatile functions, the permissions for functions
+are automatically inferred. We allowed functions when these conditions are met:
+
+- The function has to be stable/immutable
+- The function should return a table type
+
+A stable/immutable function `f` returning a table type `t` is exposed for a
+role `r` if there is a select permission defined on table `t` for role `r`.
+The rationale behind this decision is that a stable/immutable function does not
+modify the database and the data returned by the function is filtered using the
+permissions that are specified precisely for that data.
+
+Now consider mutable/volatile functions, we can't automatically infer whether
+or not these functions should be exposed for the sole reason that they *can*
+modify the database. This necessitates a permission system for functions.
+
+## Permissions on functions
+
+Going forward, a function `f`, stable or volatile is only exposed for a role
+`r` if there is a permission defined on the function `f` for the role `r`. A
+permission should only be allowed if there is a select permission on the table type.
+
+### Function permission
+
+```yaml
+type: create_function_permission
+args:
+  function: <function_name>
+  role: <role_name>
+  definition: {}
+```
+
+Inside the metadata, it be as follows:
+
+```yaml
+version: 3
+sources:
+  - name: default
+    functions:
+    - function: some_function
+      configuration: {}
+      permissions:
+      - role: some_role
+        definition: {}
+```
+
+`definition` is empty for now but we'll have more options as we extend
+the feature set.
+
+## Backwards compatibility
+
+Currently stable/immutable functions are exposed automatically, so we need to
+preserve this behaviour. So, we can introduce a new flag
+`--infer-function-permissions`, the presence of which is an explicit indication
+from the user that they want stable/immutable functions which return a table
+type to be exposed automatically like before. Note that if the user specifies
+permission for a stable function, that is preferred over auto inferred
+permission (currently since the permission definition doesn't have anything,
+this amounts to the same thing).
+
+## Future work
+
+1. Relax the restrictions on the functions that can be tracked. We can allow
+   tracking functions that return a scalar in addition to functions that return
+   a table type.
+
+1. Argument presets, can be configured per role for each function. The `definition`
+   will look like this:
+
+   ```yaml
+    definition:
+      argument_presets:
+        arg1: ...
+        arg2: ...
+    ```
+
+1. Ability to override the `filter` of the select permission defined on
+   functions returning table types. <TODO: motivate the use case>