➖Everyday Tools

In certain significant areas of regular daily life, we see a lot of opportunities for improving people's lives. With Nexbox Everyday Tools, we provide a collection of practical aids and minute services that are quick and easy to use yet have a big impact.

Approval Tracker

In the realm of DeFi, approving the expenditure of one of your BEP-20 tokens directly from your wallet is a very normal, popular practice. For instance, to spend your token(s) while trading a token in yield farming on PancakeSwap, you must first approve the smart contract for the relevant project.

When a contract requests token approval, a "how much" is always included. Only approving the amount the user truly wants to spend would be secure, but it would also be inconvenient to have to reapply each time you wanted to, say, trade a token on a DEX.

Therefore, one is usually asked for infinite (!) approval, meaning the smart contract in question could theoretically take your entire stock of the token you approved. This won’t happen unless one accidentally approves an illegitimate, fraudulent smart contract, one would think.

However, despite how damaging it might be, smart contracts are frequently hacked, abused, and drained. Therefore, it appears essential to be able to keep track of the approvals one has provided since even the smart contract of a project that is trustworthy might be the target of such an assault.

We provide Nexbox Approval Tracker as a free-to-use tool that makes it simple to track all token approvals given by any address, shows how much is still allowed, and lets you rapidly revoke your approval if necessary.

This service is presently in development and will be live when it is ready, as per our roadmap.