𝗦𝗼𝗹𝗮𝗻𝗮 𝗧𝗼𝗸𝗲𝗻 𝗘𝘅𝘁𝗲𝗻𝘀𝗶𝗼𝗻𝘀 𝗘𝘅𝗽𝗹𝗮𝗶𝗻𝗲𝗱
Web2 requires middleware to charge transfer fees. Solana uses a simple flag.
I built four tokens in six days. I learned how Solana handles identity, fees, and restrictions. Here is what I found.
𝗧𝗵𝗲 𝗕𝗮𝘀𝗶𝗰 𝗠𝗶𝗻𝘁 A basic token is just an address. It has no name or symbol. You cannot receive tokens directly into a wallet. You need a specific token account for every different token type. Think of the mint as the factory. The token account is your bucket.
𝗜𝗱𝗲𝗻𝘁𝗶𝘁𝘆 𝘄𝗶𝘁𝗵 𝗠𝗲𝘁𝗮𝗱𝗮𝘁𝗮 A token without metadata is just a random string of text. The original Token Program requires separate accounts for metadata. The Token Extensions Program (Token-2022) changes this. It stores name, symbol, and URI directly on the mint. One mint handles everything. No extra accounts are needed.
𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿 𝗙𝗲𝗲𝘀 Charging a fee in Web2 is hard. You must build logic to prevent people from bypassing it. On Solana, you use the transfer-fee-basis-points flag. I set a 2% fee on a token. When I sent 100 tokens, the recipient only got 98. The protocol withheld the 2 tokens automatically. The fee logic lives in the mint. Every transfer follows the rule. No extra code is required.
𝗦𝗼𝘂𝗹𝗯𝗼𝘂𝗻𝗱 𝗧𝗼𝗸𝗲𝗻𝘀 Some tokens should not move. Use these for certificates or identity badges. The Token-2022 program has a non-transferable extension. I tried to send a non-transferable token to another wallet. The blockchain rejected it immediately. The protocol enforced the rule. No middleware or admin override could change it. The holder can burn the tokens, but they cannot send them to others.
𝗠𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆 The protocol enforces rules without needing to know your intent. It does not care why you send a transaction. It only checks if the transaction follows the mint rules.
I am moving from building tokens to building programs next.
Optional learning community: https://t.me/GyaanSetuAi