What is an approval transaction

Transaction history signature request

The first time you connect your wallet, you will be prompted to sign a message allowing you to view the transaction history for your specific wallet. This is done for security purposes and will not cost you any gas fees, nor does it allow Penguinswap to use any of your tokens.

Note: The approval is valid for almost a year, so practically speaking, it shouldn't be something that comes up too frequently outside of getting started.

Token Approval

Any token that you use for the first time on Penguinswap (and other dApps) will need to get approval via signature from your wallet.

To do so, select the tokens you want to swap using our Penguinswap Web App.

Next, you will be asked to confirm your swap:

You will then be prompted to set a spending cap for the token. Please ensure to set a limit above the amount you wish to spend on your swap, accounting for some small fees. Default amount on the CreditWallet is set to "Unlimited". Then tap on approve.

Subsequently, you will then be able to proceed with the swap normally once that has been done. You should only have to do this once by token.

Note that no approval is needed for Creditcoin's native currency, CTC—and that your token approval lasts until token limit is reached or until permission is revoked.