FAQ
We will continually collect frequently asked questions from the community and share here.
Last updated
We will continually collect frequently asked questions from the community and share here.
Last updated
The Smart contracts cannot access your tokens until you approve access to your end.
Approvals are required because DEXes use smart contracts on the blockchain to execute transactions. By ‘unlocking’ your tokens, you grant permission to smart contracts to spend your assets. This causes an approval fee charged by networks, not OpenOcean.
There are two options:
1) Unlock a specific amount
Unlocking a specific amount is for one trade only.
2) Infinite unlock
The infinite unlock option will allow you to save on gas, since you won’t need to pay gas fees for unlocking the same token in the future. However, this is still considered to be a slightly more risky option.
Learn more about unlock/approval .