Spending Authorization (Allowance) with the SDK

The transactions.createAllowance() function is used to set an allowance for a specific spender address on the blockchain.

Create Allowance

This function only works on EVM compatible blockchains.

An allowance is a mechanism that allows an account (the owner) to authorize another account (the spender) to withdraw a limited amount of tokens on the owner's behalf. This is useful in scenarios where you want to delegate spending authorization to another account, such as authorizing a smart contract to transfer tokens for executing certain operations, you can learn more about spending authorization here.

The transactions.createAllowance() function is used to create this allowance. It's important to note that the owner has the power to specify the maximum number of tokens the spender can withdraw, providing control over how much of their tokens can be spent by the spender.

If you wish to revoke spending authorization, you can call the same function with the amount set to '0'.

Function Parameters

Param	Type	Description
password	string	User's wallet password
ownerAddress	string	The address of the account granting permission to spend tokens on their behalf.
spenderAddress	string	the address of the account that is being granted permission to spend tokens on behalf of the ownerAddress
amount	string	The maximum number of tokens that the spenderAddress is allowed to withdraw from the ownerAddress's account.
assetId	string	The asset configuration ID
contractAddress	string	Only required if assetId is not provided.
reference	string	A UUID that correlate to a transaction in your system.
memo	string	Any message or a memo you would like to store with the transaction.

Function Response

Attribute	Type	Description
transaction	Transaction	The transaction object which contains the transaction hash and status

Example

const { transaction }  = await wallaby.transactions.createAllowance({
  password: "my-wallet-password",
  ownerAddress: "0x...123",
  spenderAddress: "0x...321",
  amount: "10",
  assetId: "your-asset-id",
  contractAddress: "0x...789",
  reference: "a4dedb83-4d59-41ca-84b5-4b24a98878d8",
  memo: "Allowance for trading my NOTE",
});

console.log("Allowance Transaction: ", transaction);