How to revoke token allowances using Wallet Approval

Coin98 Super Wallet now supports the Wallet Approval tool, revokes token allowances from dApps on all supported Blockchains, and protects users from potential loss risks.

Why should you use the Wallet Approval tool?

To trade, farm, stake, or interact with any dApps, you are required to allow smart contracts to access your assets. There are 2 approaches to allowance: Allow for a specific amount of tokens and unlimited approval.

• Allow for a specific amount of tokens: you give access to a particular amount of tokens for smart contracts of DApp. It can not exceed the maximum number of tokens that you grant.

• Unlimited approval: It means that you provide a smart contract with full permission of your funds.

Unlimited approval brings them a fast and frictionless experience; however, it might potentially affect the risk of asset loss if you interact with untrustworthy platforms or scamming pools.

It is recommended not to grant unlimited access to a platform to keep your funds safe.

How to revoke token allowances

Step 1: Access the Wallet Approval feature

Option 1:

Click on the icon at the top left corner of the main screen ⇒ Choose Services ⇒ Scroll down or search for the Wallet Approval.

Option 2:

Click on the Discover icon at the bottom of the main screen ⇒ Navigate to the Services tab ⇒ Scroll down or search for Wallet Approval

Step 2: Select the blockchain and the wallet which you often use to interact with DeFi services.

Step 3: Click on the [x] icon next to any contract from which you would like to revoke the permission.

Step 4: Click Confirm for completion and wait for seconds. All done!

Note: This revocation process will require a small gas fee. Please ensure you have enough father tokens in your wallet to cover the gas fees for revoking transactions on each blockchain. What is Gas Fee?