⛏️approveVolary

Description

The approveVolary function allows for the approval of a certain amount of tokens to be spent by another address, typically a smart contract.

Parameters

Name	Type	Description
spender	string	The address of the spender, typically a smart contract
amount	string	The amount of tokens to approve for spending
privateKey	string	The private key of the user's wallet

Response

Property	Type	Description
receipt	object	A transaction receipt object that includes information about the transaction, such as the transaction hash and status.

Example Request and Response

Prerequisites

Before making requests with QUBIT SDK, you must have it installed.

You can install QUBIT SDK using either npm or yarn. Use the following commands to install QUBIT SDK:

npm install @nest25/tokenomics-lib
OR
yarn add @nest25/tokenomics-lib

Request

Here is an example of how to make a approveVolary request using the QUBIT SDK:

// import QUBIT SDK library
const { volary } = require('@nest25/tokenomics-lib');
// private key of the account you want to use
const TEST_PRIVATE_KEY = 'your-private-key';
// address of the staking contract
const STAKING_CONTRACT_ADDRESS = '0x077e4F1496693B7c45128c436eF933ccaFe6d291';

// create a new instance of staking
const Volary = new volary();

async function main() {
  // approve Volary to stake
  const result = await Volary.approveVolary(STAKING_CONTRACT_ADDRESS, '2', TEST_PRIVATE_KEY);
  // print the result
  console.log(result);
}
main();

Response

{
        type: 2,
        chainId: 8888,
        nonce: 74,
        maxPriorityFeePerGas: BigNumber { _hex: '0x59682f00', _isBigNumber: true },
        maxFeePerGas: BigNumber { _hex: '0xd09dc300', _isBigNumber: true },
        gasPrice: null,
        gasLimit: BigNumber { _hex: '0x6983', _isBigNumber: true },
        to: '0x51d93eFc7a629C6c8e61de078d71b6E5c7F84B80',
        value: BigNumber { _hex: '0x00', _isBigNumber: true },
        data: '0x095ea7b3000000000000000000000000077e4f1496693b7c45128c436ef933ccafe6d2910000000000000000000000000000000000000000000000001bc16d674ec80000',
        accessList: [],
        hash: '0xd5a8ae72ae6a21babe3c0a025f7dfb05b4e0bd20c8870cd2220d5effe91ddc09',
        v: 1,
        r: '0xd5cfb759e73ed11e0efbb7e5fea3c5d56df6fe1c0e9db4d74d8f2fc4d184becf',
        s: '0x2938514e8e57b7c89af0515004f895ab81e38dc60792971a3f684fe959579cd4',
        from: '0x5712d28795106f0105C01e99A708d018C1d70E52',
        confirmations: 0,
        wait: [Function (anonymous)]
      }he

Use Cases

• DeFi Applications: The function can be used by DeFi applications to approve the spending of a certain amount of tokens by a smart contract.

• DEX Platforms: The function can be used by DEX platforms to allow users to approve the spending of their tokens for trading on the platform.

• Lending Platforms: The function can be used by lending platforms to allow borrowers to approve the spending of their tokens as collateral.