Token approval

Permission for a specified spender to move tokens under the token contract's rules.

PLAIN-ENGLISH DEFINITION

In more detail

A DEX may need permission to take the tokens used in a swap. For ERC-20 tokens, approval sets an allowance for one spender; NFT permissions work differently. This is an onchain permission, so closing the tab or disconnecting the website does not automatically remove it.

IN THE WILD

How you might use it

"I approved the swap contract for 50 tokens. Why hasn't anything swapped? Approval was the permission step."

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By Crypto Dictionary · Published Oct 9, 2026 · Updated Oct 10, 2026

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