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I made USDC transaction and metamask said it was sent and etherscan also say there was a transaction made as seen below. But my USDC balance is still the same as if it never left my account. And neither did the receiver received it. Why was a transaction made but nothing was deducted? I paid $3 worth of gas fees, did I just lose $3?

Also why does no where in the transaction say the amount of USDC that was sent.

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  • the transaction action say approved :/ and not transfer :/
    – Majd TL
    Commented Sep 14, 2020 at 20:10
  • i see. so approved and transfer are 2 completely different things? so where did it break in the transaction? where should i look? Commented Sep 14, 2020 at 20:21
  • where did you make the USDC transaction?. In ERC20 approve usually mean you give a third address the ability to spend a certain amount of your token on behalf .. if you click on "click to see more" you should be able to see the function that has been called with the parameters
    – Majd TL
    Commented Sep 15, 2020 at 7:45
  • what happens now its been 3 days since i approved it. does it expire? Commented Sep 16, 2020 at 17:02
  • We need more information from you? what are you using? how did you send the transaction, where and why?
    – Majd TL
    Commented Sep 17, 2020 at 8:40

2 Answers 2

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Because you just approved your tokens. You didn't send them, you just approved the contract or address to use those tokens whenever it wants. Create another transaction with the actual transfer.

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The process goes like this on DEX's Swap :

you must approve the moment of token you are sending , which is 1 transaction you must then transfer the token , which is another transaction

So when you are trying to swap on a DEX , u actually have to make 2 transactions.

So it seems like you only approved your swap now you u have to press the swap function on the dex which should have changed from approve to swap on the dex :>

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