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On this page
  • Preparation:
  • Solana Burn Token Tutorial
  • 1. Connect your wallet
  • 2. Select the tokens to burn
  • 3. Enter token quantity you want to burn
  • 4. Click "Burn Token" and click "Confirm" when the wallet pops up
  • Solana Token Burn Q&A:
  • 1. What does it mean to close an account?
  • 2. Can NFT be destroyed?
  • 3. Can I withdraw liquidity after burning the pool?
  1. solana

Solana Burn Token Tutorial

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Last updated 1 month ago

Solana Burn Token refers to the destruction of a portion of Solana (SOL) tokens through a specific mechanism or transaction, thereby reducing the total number of tokens in circulation. The purpose is to reduce the supply to increase the scarcity of tokens, which may in turn increase their value.

Preparation:

  1. Solana Wallet

  2. The minimum amount of money required in a wallet is 0.03 SOL

  3. The token contract to be frozen and the account address information to be frozen

Solana Burn Token Tutorial

1. Connect your wallet

Enter the GTokenTool burn token page, connect your wallet in the upper right corner, and select Phantom wallet.

Solana Burn Token:

2. Select the tokens to burn

After selecting a token, you can see the token information below.

3. Enter token quantity you want to burn

4. Click "Burn Token" and click "Confirm" when the wallet pops up

Before performing a token burn, please make sure you fully understand the purpose of the burn and the potential impact on the project's economic model. Burning tokens is an irreversible operation. Once executed, the burned tokens will be permanently removed from circulation. Before submitting a burn operation, be sure to carefully check the number of tokens to be burned. The wrong amount may lead to unexpected financial losses.

Solana Token Burn Q&A:

1. What does it mean to close an account?

A: Every time you receive a new token, the Solana system will automatically open a token storage account in your address. The so-called "closing an account" means that all tokens are destroyed and the account is closed. Closing an account does not affect your own wallet, so don't worry.

2. Can NFT be destroyed?

A: You get NFT by adding to the Orca pool, which does not support destruction or pool burning for the time being. Currently, you can destroy LPs of Ryadium and Meteora.

3. Can I withdraw liquidity after burning the pool?

A: After burning the pool, you will never be able to withdraw liquidity.

If you have any questions or are unclear, please join the official Telegram group:

https://t.me/GToken_EN
https://sol.gtokentool.com/en/liquidityManagement/burnToken