What is Token Allowance/Spending Cap?
Spending cap refers to the amount of USDT that you allow a GRVT (a "spender") to spend on your behalf in order to transfer per transaction to the GRVT exchange.
How to Set a Spending Cap
In the deposit page, select "From connected wallet"
Select the "wallet to connect" and "network"
Enter your preferred cap per transaction
Click “Set Spending Limit”
Your wallet will prompt a spending cap window.
Sign the transaction to set the spending cap
Note that enabling Spending Cap will incur gas fees.
Depositing an amount higher than your spending cap
Important Note: With USDT, you cannot directly update an existing allowance. If you want to change the allowance for a spender, you must first revoke it to 0.
Steps to Change Your USDT Allowance
Revoke Current Spending Cap (Navigate to your connected wallet, find the spending cap, and revoke the current spending cap)
Approve New Spending Cap
Deposit
Best Practices
Set caps only as needed for each transaction.
Only grant maximum caps to trusted applications.
Regularly review your spending caps for safety.