How do I Revoke a Token Approval Podcast
How to Revoke a Token Approval on Goblins Protocol
When you first swap or add liquidity to a pool on the Goblins Protocol, you must approve the token, allowing the protocol to access the token in your wallet. There are situations where you might want to revoke a token approval, such as if your wallet has been compromised, if you wish to change the amount of an approved token, or if you want to reduce the risk of unauthorized transactions.
Steps to Revoke:
- Visit Revoke.cash: Navigate to the Revoke.cash website, a trusted platform for managing token approvals.
- Enter Your Public Wallet Address: Input your wallet address to view all approved tokens.
- Revoke: Select the token approval you wish to revoke and confirm the action.
Important Considerations:
- Gas Fees: Revoking incurs a gas fee, which is required to execute the transaction on the blockchain.
- Reapproval Needed: If you revoke, you will need to reapprove the token the next time you attempt to swap or add liquidity on Goblins.
- Security: Regularly reviewing and revoking unnecessary token approvals can enhance the security of your wallet by limiting access to your assets.
By following these steps and regularly managing your token approvals, you can better protect your funds and maintain control over your wallet’s interactions with decentralized applications.