Approvals

Interacting with SageBet contracts requires users to approve certain transactions.

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).

1. 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.

   
2. 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 Conditional Tokenssection 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.