Hey, I havent done some trading on the terminal in

Question

Hey, I havent done some trading on the terminal in

a while and now I want to, but can pls somebody explain to me the metamask custom spending cap? As I understood correctly from my research, it is always best to enter for each trade only the amount you want to trade? Like I want to trade 50 link for whatever usdt, so in the custom spending cap I enter 50 link.. right? Thanks

#cryptocurrency #english #orion

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23.10.2023

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Peter Freeman Автор вопроса

Stéphane
The "custom spending cap" refers to how much of th...

Thank you very much, understood

0

24.10.2023

Orion

Peter Freeman
Thank you very much, understood

Peter Freeman (0) has increased reputation of Stéphane (3)

0

24.10.2023

Stéphane · Accepted Answer

The "custom spending cap" refers to how much of that token (e.g. USDT or ORN) Orion's smart contracts can access. So if you allow only 50 USDT to be accessible, and you trade 50 USDT, then you'll need to approve a new custom spending cap next time you trade — if you set it to be unlimited, then next time you trade it'll be easier & faster. The reason for having a custom spending cap is to limit your exposure if ever a dApp gets exploited or acts maliciously.

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