Asset management
Wallet Connection vs. Transaction Approval
Connecting a personal wallet does not grant permission to move assets
When you connect a personal wallet, Dollarparking can view your wallet address, asset balances, and public transaction history.
However, simply connecting your wallet does not give Dollarparking permission to move your assets.
- Wallet connection: Shows your wallet address to the site
- Approval: Grants permission needed for a transaction
There are two types of approval
| Type | Meaning |
|---|---|
| Token approval | Allows a specific token to be used for a transaction |
| Transaction approval | Requests a transaction using the assets and amounts you reviewed |
※ For both steps, you must review the details in MetaMask and approve them yourself.
What is token approval?
Token approval may be required the first time you trade stock tokens with USDT or USDC.
Token approval does not immediately send assets or execute a trade.
It gives a system permission to use a specific token within the limit you allow.
When trading through Dollarparking, you grant the relevant smart contract permission to use the tokens needed for the Uniswap trade.
※ Dollarparking does not request permission to move your assets to an arbitrary address.
※ Depending on the approval limit and validity period, you may not be asked for the same approval again in later transactions.
What should you check on the token approval screen?
- The token you are allowing to be used
- The party receiving permission to use the token
- The amount or limit being approved
- The validity period or expiration time, if shown
If the recipient is an unknown address, or the approval amount is higher than necessary or unlimited, review the details again before approving.
※ The items shown may vary depending on your wallet and the approval method.
What is transaction approval?
Transaction approval allows the actual token exchange to proceed under the conditions you reviewed.
Token approval gives a smart contract permission to use a token, while transaction approval confirms and executes the assets and amounts for this specific transaction.
The transaction proceeds only after you review the details and approve it in your personal wallet.
If you do not approve it, the transaction will not proceed.
What should you check on the transaction approval screen?
- The asset and amount being sent
- The asset and estimated amount being received
- The party processing the transaction
- The network fee and final fee
- Any other transaction details shown in your wallet
Before approving, make sure the assets and amounts shown in Dollarparking match the details shown in your wallet.
Checking the details before approval is most important
If you approve token permissions or a transaction on an unofficial site, you may lose your assets.
Always check the site address, asset type, amount, and permission scope.
Dollarparking and MetaMask never ask for your private key, recovery phrase, or wallet password.