What is token approval?
Before swapping ERC-20 tokens on a decentralized exchange, you generally need to submit an approval transaction to allow the other contract to transfer those tokens on your behalf.
An approval is like giving someone a document authorizing them to withdraw money from your account: the higher the limit and the longer it remains valid, the greater the potential risk.
While you’re here, take a look: $ETH is at 2387.52, down 3.45% over 24h.
Before swapping ERC-20 tokens on a decentralized exchange, you generally need to submit an approval transaction to allow the other contract to transfer those tokens on your behalf.
An approval is like giving someone a document authorizing them to withdraw money from your account: the higher the limit and the longer it remains valid, the greater the potential risk.
While you’re here, take a look: $ETH is at 2387.52, down 3.45% over 24h.