When you use a third-party DApp, especially a DeFi DApp in the SafePal wallet, you often need to authorize the DApp access to your wallet so that you can stake the funds to the smart contract. Sometimes the wallet authorization to a third-party DApp could pose potential risks to your funds because the authorization allows the smart contracts to access your funds conveniently. Hence it is very important to revoke the authorizations on third-party DApps from time to time to prevent any potential risks. If you are a frequent DApp user, we strongly recommend to regularly check the authorizations of third-party smart contracts to avoid any potential risks.
Approval Manager is a useful tool developed by SafePal to check all the DApps that you have authorized and revoke any of them in a few clicks.
If you need to revoke smart contracts that you accidentally signed or no longer use, here below is a detailed tutorial on how to use the Approval Manager in the SafePal wallet.
Note: Make sure your SafePal App version is 4.2.0 or above. If your App version is below 4.2.0, please kindly update the SafePal App first. The latest SafePal App can be downloaded from the SafePal official website here.
The section contains the following steps:
·Step 1 Navigate to the Approval Manager
·Step 3 Complete
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Step1 Navigate to the Approval Manager
Navigate to the DApp store in the SafePal App, where you can find ‘Approval Manager’ in the 'Hot' section. Click on the Approval Manager DApp to launch it.
Step2 Revoke the token that you authorized to the third-party DApp
1. On this page, you can view the full token list of authorized DApps on different chains. Switch between different chains and select the token that you want to revoke. Here we will use the $BUSD token on PancakeSwap as an example.
2. Click ‘Cancel Allowance’
3. Since revoking the token access is a on-chain process, the action will be broadcast onto the blockchain and there is a blockchain gas fee charged from your wallet by signing the revoke request.
Choose the network fee standard and click ‘Confirm’
4. Enter your App security password, and click ‘confirm’ to authorize the signature.
Step 3 Complete
1. Wait a while for the signature to be completed.
The PancakeSwap will not have access to the $BUSD token in your SafePal wallet then, which means the DApp is revoked for your token and it has no access to your wallet $BUSD balance anymore.