What is custom token allowance?
Custom token allowance lets users set a limit on the number of tokens that dapps can access.
Users are prompt during the signing transaction flow to set a spending cap for a specific token in the “Allow to spend” field. By default, the spending amount is set to “unlimited” but customization is just a click away.
Upon confirmation, users immediately receive a push notification and can track their approved custom token allowances in their transaction history.
Why is it important to set custom token allowances?
Custom token allowance offers users an effective way to safeguard their assets against common scam threats.
Scammers often try to trick you into granting them access to funds, but with Custom Token Allowance, you have the control to set your own limits on how many tokens dapps can access. Thereby, reducing the risks of losing your funds due to hacks, exploits, or phishing scams.
Zerion makes it easy for users to view and manage their token allowance during a transaction. Rather than automatically accepting a dapp’s proposed limit, the user can choose their own custom token allowance or go with the default allowance.
Moreover, it’s good practice to periodically reassess the dapps that are connected to your wallet and revoke their access as a precautionary measure. Learn more about how you can revoke access to dapps here.
How to set custom token allowance on the mobile app and browser extension
During the transaction process with the Zerion mobile wallet or browser extension, follow the steps below:
Click ‘Edit’ in the ‘Spending Token’ field
Enter the desired token spend limit
Click ‘Confirm’ to set the limit
Get a notification of the approval
View the approval in History tab
iOS:
Android:
Extension:
