Update Token Approval

You can update the maximum amount of a specific token that a DeFi protocol is approved to access (i.e., allowance).

Note that only the admins and operators of the organization can update a token approval. A multisig transaction from Safe owner(s) will be required.

Step 1: Click on "Cobo Safe" on the left menu.

Step 2: Select a Safe Wallet.

Step 3: Switch to the "Token Approval" tab and click on "Update".

Note that token approval is granted through the authorization feature on Cobo Argus V2. If you update a token approval, your authorization may fail because the maximum amount of a specific token that the DeFi protocol is allowed to use will be modified.

Step 4: Confirm whether you would like to continue. If yes, click on "Continue".

Step 5: Modify the maximum amount of a specific token that the DeFi protocol is approved to use.

• Unlimited: the Spender can manage an unlimited amount of a specific token

• Customized: the Spender can manage a limited amount of a specific token

In the following example, the Spender is allowed to use up to 100,000 USDT.

Step 6: Click on "Submit".

Step 7: Sign a message in your connected wallet extension.

Step 8: Return to Cobo Argus V2. You will be prompted to complete a multisig transaction on Safe.

Step 9: The token approval will be updated once the multisig transaction from Safe owner(s) is completed.