What are token allowances and how do I manage them?

When you are transacting with ERC-20 tokens and NFTs on any network, a token allowance approves the smart contract to transact with your tokens. When transacting with these tokens you will need to Approve and Confirm the transaction. This can be an attack vector for malicious characters to get access to your tokens and potentially steal them. 

Token allowances come in 2 forms, Exact and Infinite Allowance. Exact Allowance allows the smart contract to transact with a specific amount of tokens that you determine. Infinite Allowance allows the smart contract to transact with all current and future balances of the approved token.

You can select your preference directly though your settings on Zapper.