Simple steps to safeguard your wallet from unlimited ERC-20 allowance risks

Cointelegraph

Published Apr 21, 2021 07:50AM ET

Updated Apr 21, 2021 12:20PM ET

Participating in the decentralized finance space often necessitates the need to grant projects certain permissions to spend tokens from one’s own wallet.

These permissions — called ERC-20 allowances — help to simplify the smart contract interaction processes that allow users to send funds to a contract while simultaneously calling a state change function.

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