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Why is currency approval required?
Currency approval is required to grant a permission for the smart contract access to specific types of ERC-20 tokens such as WMATIC and USDC from your wallet.
If you are using WMATIC, USDC, or any other ERC-20 tokens to make payments for the purchase of NFT (either buying a fixed-price NFT or making an offer on an NFT), you will be asked to approve for each currency. This process only takes place ONCE in case of making payments with USDC,WMATIC, or any other ERC-20 tokens, and a little amount of gas fees are associated with this request.
- Note that this currency approval is not carried out when using MATIC, Polygon native token.
- You may also be able to revoke this token approval if you don’t intend to use such token again or in the near future. Please visit How can I revoke token approvals on Polygon? for further information.