Token Approval
Plain English
Permission you give a smart contract to spend your tokens. Like giving someone a credit card with a spending limit. When using DEXs or DeFi apps, you approve them to access your tokens. Important: Revoke old approvals you’re not using to stay safe.
Technical
ERC-20/SPL token standard mechanism allowing smart contracts to transfer tokens on behalf of an address. Approvals specify spender address and amount limit. On Solana, this is handled through associated token accounts and program-derived addresses with designated authorities. Unlimited approvals pose security risk if contract is exploited - use tools like Revoke.cash to audit/revoke.