Polynomial Earn Docs
  • Overview
  • Polynomial Earn Vaults
  • FAQ
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  • FUNDAMENTAL
    • Options Primer
      • Call options
      • Put Options
      • The Greeks
    • Premium collection
  • TECHNICAL IMPLEMENTATION
    • Deposit
      • Deposit on Optimism
      • Deposit from Ethereum,Arbitrum&Polygon
    • Withdraw
    • Approve
    • Swaps
    • Synthetic Assets
    • Collateralisation
    • APR & APY Calculation
  • Vault strategies
    • Call Selling
      • Asset collateralised
      • sUSD collateralised
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      • Vault strategy
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  1. TECHNICAL IMPLEMENTATION

Approve

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Last updated 2 years ago

TL;DR:- Approvals are required because Polynomial uses the Ethereum blockchain to settle transactions.

When using a Decentralized Application(dApp) like Polynomial, you must first approve each token you plan to deposit. Polynomial uses smart contracts on the Ethereum blockchain to execute transactions.

To use a smart contract, you must :

  • Permit it to validate your token balance

  • Let it transfer the number of tokens you wish to trade from your wallet.