Approvals
Interacting with SageBet contracts requires users to approve certain transactions.
Last updated
Interacting with SageBet contracts requires users to approve certain transactions.
Last updated
If you have not interacted with a given SageBet market before, you'll need to approve spending for both USDC and the Gnosis Conditional Tokens (which represent outcome shares).
USDC (ERC-20): When you make a limit or market buy order, that means you'd like to buy outcome shares for USDC. In Metamask, the approval transaction will look like the following. You can choose a 'Max' amount to allow or set a specific limit. Just note that you cannot approve more than you have in your wallet, and if you set a lower limit and make another transaction later, you may have to approve again. An ERC-20 approval like this usually costs $0.10-$0.20.
Gnosis Conditional Tokens (ERC-1155): If you have outcome shares that you want to sell via a limit or market sell order, you'll need approve ERC-1155 spending. ERC-1155 tokens are a kind of NFT and require a different approval than ERC-20 tokens, though the process is effectively the same. See the section for more information on the ERC-1155 standard. Below you'll see an example of the approval. Please note: SageBet will never under any circumstances unduly spend or otherwise interact with your ERC-1155 tokens, or any other token, under any circumstances. You can read the Contractsif you'd like further assurance.
