D'CENT Wallet Now Supports Solana Token-2022 Standard

As the cryptocurrency market evolves, the need for new token standards to meet users' diverse demands has emerged. D'CENT aligns with these market trends by supporting the new standard Token-2022 on the Solana blockchain.

With D'CENT Wallet now supporting Token-2022, the range of Solana tokens that can be managed with the D'CENT app has expanded significantly. This allows users to manage not only traditional SPL tokens but also various Solana-based assets issued under the Token-2022 standard more efficiently.

This article will introduce the concept of Solana Token-2022 and provide tips for using it with the D'CENT Wallet.

What is the Solana Token-2022 Program?

Token-2022 is a new token standard on the Solana chain, introducing additional features and improvements that go beyond the limitations of traditional SPL tokens. Compared to SPL tokens, the most notable differences include the transfer fee structure, automatic interest payments, and token transfer restriction settings.

Here are the key aspects of Token-2022:

• Feature Expansion: Token-2022 extends the functionalities of the existing SPL token program by adding new features and enhancements.

• Mint Account and Token Account: Token-2022 utilizes Mint Accounts to create and manage unique tokens. A Mint Account is a smart contract account that manages token issuance and total supply, including metadata like the total supply of tokens. On the other hand, Token Accounts track accounts that individually own tokens from a specific Mint Account.

• Token Types: Token-2022 supports both fungible tokens (FT) and non-fungible tokens (NFT), enabling users to own and manage various types of assets on the Solana network.

• Developer Resources: The official Solana documentation provides guidance on creating and managing tokens using the Token-2022 program. This helps developers implement customized logic with the extended token functionalities.

Token-2022 significantly enhances the flexibility and functionality of tokens within the Solana ecosystem, providing a foundation for richer development of dApps and projects on Solana.

Source: Dune Analytics @enki_labs

Important Notes on Transferring Tokens Issued Under Token-2022 in D'CENT Wallet

Token Fees

Transfer fees may apply to each token. These fees are separate from network fees.

Memo Tag Functionality

The memo tag in cryptocurrencies is an identifier added during specific transactions. Solana's Token-2022 also supports the use of memo tags.

Among the Solana tokens added to the D'CENT Wallet, you can find tokens that allow memo tags in the send screen (e.g., token ai16z).

With the successful integration of Solana Token-2022 in the D'CENT Wallet, we have met the demands of our users.
D'CENT will continue to reflect your diverse needs and provide safer and more innovative wallet services.