Depositing on AAVE via MetaMask

Defi 101 Course
#1

Hi everyone,

I’m new to MetaMask and the use of hot wallets so would appreciate some help…
I’m trying to make deposit on AAVE (for lending). Can someone please explain to me why there are two transactions, one to ‘allow’ and one to ‘deposit’? I already paid one gas fee (approx $10 of ETH) to ‘allow’ and now its asking for a further gas fee ($64 of ETH) to deposit.
A similar thing is happening on Pooltogether, already paid $10 to ‘allow’, now its asking for $147 to ‘deposit’!?

Is this normal for these type of platforms?

Thanks in advance :slight_smile:

#2

This is a common thing for decentralized protocols. First, you have to approve access to the funds you want to use. Then, you can proceed with the transaction you want to execute. Another example is on Uniswap: if you trade using anything other than Eth as the initial asset, you have to approve the funds. Note in Metamask, you can edit the amount you’re allowing access to. The default is unlimited. That means the protocol you are giving access to can access all the funds of the particular asset on your wallet. Many people don’t like to do this, and manually set the amount they wish to provide access for. If you have given access to funds on your wallet and wish to revoke it, you can use revoke.cash