What does approve mean for my ERC Token

Support & Feedback English
1

Hi
I tried to swap my Rune ERC20 token to ETH using Uniswap.
Twice it got processed but both times I didnt see ETH deposited in my wallet.
However no Rune is deducted.
When I check for transactions under Rune, I see two lines with Approve written.
Not sure what I am supposed to be doing.
Network has charged me network fees both times.

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Kiran

2

Hello @kchalise To better assist, please send the following information:

  1. Trust Wallet app version (open the app, go to the settings of the app and press “About”, take a screenshot, and attach it here)

  2. Crypto wallet address (press the receive icon near the send button, take a screenshot of the QR code, and attach it here. Also copy and paste it in plain text)

  3. Transaction hash or link (if you have any, please copy and paste)

  4. Further details about your issue (please explain what you were trying to do)

  5. Screenshots of the wallet (including errors or missing balance)

1 Like
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Hi
See below:
My problem is that I swapped using uniswap Rune erc20 tokens into ETH.
The process went ok but there is no ETH swapped. Instead I have two transactions listed under token that I was swapping that has a note saying approve. I dont understand why swap didnt happen and why fees were charged.

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Hello @kchalise When swapping tokens for the first time, you have to approve it first to be spendable. And, that is what you did just now.

Since you are done approving the token, you need to enter the amount that you want to exchange then press the swap button.

All in all, you will confirm two transactions: approve and swap

NB: Both token approval and swapping transactions needs gas fees.

6

@kchalise on exactly exchange you were trying to swap earlier and ended up only approving.

8

When swapping tokens for the first time, you have to approve it first to be spendable. And, that is what you did just now.

Since you are done approving the token, you need to enter the amount that you want to exchange then press the swap button.

All in all, you will confirm two transactions: approve and swap

9

i dont understand.
perhaps you can write the steps down for me.
i dont know how to approve or enter the amount and press swap.
do you mean i need to redo everything from start as if nothing happended?

10

Same here. Although Baby Doge transaction seems all well; the amount and price on Trust, I too have the approve notice