Tokenlon is based on Ethereum Smart Contracts for atomic currency exchange. During the exchange process, the token will not leave your wallet and complete the exchange in the blockchain through the smart contract.
The purpose of the authorization is to allow smart contract of Tokenlon to get the transfer permission of the token, and complete the token exchange after the user initiates the transaction. You cannot use Tokenlon for currency exchange without authorization.
Authorized operation steps:
- Turn on the authorization switch
- Send authorization transaction
- Waiting for the transaction success
- Token authorization completed
- When using Tokenlon, exchanging ETH to other tokens does not require authorization, but using ERC 20 tokens to exchange, authorization is needed.
- Authorization operation does not affect user asset security.