We will continuelly collect frequently asked questions from the community and share here.

Why need to unlock tokens?

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 β€˜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 here.

How to withdraw on OpenOcean CEX account?

  1. Access your CEX account through OpenOcean trading page and select " CEX account" under More dropdown list.

2. Log in your CEX account.

3. After login, you may select the token and public chain to be withdrawn, fill in the address and amount, and confirm the order. (Before withdrawal, please double check the token and the address to avoid loss of assets)

At the bottom of the asset management page, check the recent deposit and withdrawal records.

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