What are token approvals?
On certain blockchains - especially EVM-based networks like Ethereum, Polygon, and BNB Chain - you may need to grant token approvals before interacting with decentralised applications (dApps).
Approvals allow smart contracts to spend specific tokens from your wallet on your behalf. This is required for activities such as swaps, lending, or liquidity provision.
Why token approvals are important
Enable dApps to function - without approvals, smart contracts cannot access your tokens.
User control - you decide how much of a token a contract can use.
Security risk if misused - approvals given to malicious or compromised contracts can result in stolen funds.
Tip: Only approve contracts from trusted sources.
How token approvals work
You interact with a dApp that requires tokens (e.g. swapping USDT for ETH).
The dApp requests approval for the smart contract to spend your USDT.
You confirm the approval in Wraith Wallet.
Once approved, the dApp can execute transactions using that token, within the limits you set.
Approval amounts
You can specify how much of a token a contract is allowed to use:
Exact amount - e.g. approving 50 USDT for a swap.
Unlimited approval - gives the contract access to all of that token in your wallet.
Note: Unlimited approvals are more convenient but carry higher risk. If the contract is compromised, your entire balance of that token is exposed.
Managing approvals
Wraith Wallet lets you view and manage token approvals in your wallet settings.
You can revoke or reduce approvals at any time.
Third-party tools (such as token approval checkers on Ethereum) can also help you review and revoke old approvals.
Security reminders
Only approve tokens for trusted dApps.
Avoid leaving unlimited approvals unless absolutely necessary.
Regularly review and revoke permissions you no longer use.
Key points to remember
Token approvals are required for interacting with dApps on EVM networks.
You control how much a contract can spend.
Approvals can be revoked at any time for added safety.
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