Solana burn token reddit

Solana burn token reddit. if there is nothing in SDK can you please tell me what is a good burning address , for example what is the zero address or null address and is it valid in SOLANA BLOCKCHAIN , thanks in advance. If it's an illegitimate token then it likely doesn't even show up in Ledger Live to begin with. 1 Share. Non-Linear Inflation Schedule: The inflation schedule may not be linear throughout the year, potentially front-loaded or with variations depending on the network's needs Get the Reddit app Scan this QR code to download the app now The #1 Solana Memecoin subreddit. We ONLY offer support through the Help Center. 16 catwifhat ($CWIF) on solana is a memecoin that utilizes a burn fee with Solana Token Extensions. NFT holders can join this event on Bandit Network, exchanging three NFTs for a rare Sage NFT. 78%. (Solflare Wallet should also give you the option to burn it). ; Conclusion. This also works with other wallets 87 subscribers in the catwifhatsolana community. First, go to the KeyGlowMax Token Burner Tool. xyz to understand the red flags for investors that new tokens may have (low liquidity, not locked/burned LP token, top 10 holders holding majority of token allocation, etc). Nobody will send you NFTs to give you free money. Well even if its renounced they can still rug via pulling the LP out. It make look funny. Do NOT respond to anyone claiming to be Phantom Support on Reddit DMs, ever. We need an easy way to educate all the people joining the network that the best thing to do, is Ecosystem. Meaning, i got the rights to pull liquidity out anytime currently. You will receive a small amount of SOL (usually around 0. Welcome to the official Solana subreddit. What does this mean you may ask. This subreddit is a public forum. When you are sent a coin, the sender will need to put in some SOL into your token account. This can be any SPL Token or the Liquidity Pool Tokens (you received from the DEX like Raydium when adding liquidity). Mar 24, 2024 · Burn Solana SPL Tokens STEP-BY-STEP GUIDE TO BURN SPL TOKENS ON SOLANA. 5% of the coin eventually they sell off in profit Even if the coin is locked, look at creator and who they gave coins too. Im using fluxbeam and want to burn lp. Now when you close the token account, you are reclaiming the SOL in the token account. •. . I asked the same question out of curiosity and kinda got laughed at. But it doesn't make sense, you will pay fees for that. 51 subscribers in the catwifhatsolana community. Some you just can’t burn. Bearish market won't kill Solana. Open Phantom and select the token you want to burn (whether it be SPL Tokens to LP Tokens) and click on "view in solscan". Click "Create Token," confirm the transaction and your token should be live in 20–30 seconds. Although Phantom flags it as possible spam, it can’t burn the sh*t out of it. Solana is built for speed, without trade-offs. BURN https://solscan. Sometimes it gives you that % as yield. I've seen two people get scammed for thousands today. Solana has a natively built in burn function. e. It costs 0. We put money where our mouth is. When you win, someone else loses and that is someone who did trade. FantasticRaise9127. As Solana continues to gain traction and establish itself as a robust blockchain ecosystem, here are some potential predictions for where Solana might be headed by 2024: I believe that with its high throughput and low transaction costs, Solana is likely to witness a substantial increase in its ecosystem by 2024. Yo guys, coming from EVM chains so please bear with me. If the vote passes, we will send the Kin from the Reserves to the contract. This subreddit is used for Token Burning in crypto world means intentional and permanent removal of certain numbers of tokens from circulation, thereby reducing the overall supply. Let me know if it does. Use phantom to burn them and get like 0. Huge Solana supporter but releasing bonk shows a bad example of crypto. Use the auto-fill feature for auto-filling the Token Address and Decimals. It's been a popular branding for memecoins since the earliest times of memecoins on different You can either lock the liquidity or burn the LP tokens you receive after creating the liquidity pool by using something like sol-incinerator. I have seen quite a few people asking here how to burn their SPL/SPL22 tokens. No real person does that. With new token standard the creator can set any fee they like, and use it for whatever. They didn’t burn the 100 million tokens for the $0. Those are scams. I received this "scammer token beware (SCAM)" too after swap in orca, this worked for me to recover the SOL locked by this scam token, also works for any unwanted token: Burn it by send all scam or unwanted tokens to the BURN system (only send the tokens, never send any SOL to the burn addr If these tokens are unclaimed by the end of January 29, the WEN team plans to burn them. 1. For your second question, the answer is as simple as the first. Whenever I do some SOL txn, I receive these WEN and other NFTs. This will give you the Token Account and SPL Token Address. Does this mean they can rug pull the coin or is 75% okay? I’ve been rugged on coins that had 100% lp locked and even with a good score on rugchecker 😂. SPL tokens are similar to ERC20/ERC721 tokens Welcome to the official Solana subreddit. Now it can’t be swapped or found in wallet, and also the name of the token on Raydium is no longer able to be found? 1. 00001 solana. js. Creators can Solana is a balance of inflationary forces and deflationary forces. High holder concentration: we just created the token, it's only bots trading it Low amount of LP Providers: same Low Liquidity: I only added 0. for some reason it seems to be more difficult than it really needs to. As a result, BONK's circulating supply decreased by 5% to 94. Say goodbye to high fees and slow confirmations. I’d leave it alone, I wouldn’t try moving it. But, on Solana there is no such thing as burn wallet. You can confirm this by checking on Solscan. Once the smart contract is live you could propose a vote to Kin token holders to send say 100mm Kin to it, and we could take an on chain vote. Some projects will airdrop the token directly but it's also rare. SOLANA SPL TOKEN BURN ADDRESS . There is a command -BURN which does exactly that, burns tokens. Issued by - OrcaDAO. Enter them in the token burner and specify the amount you want to burn and burn it. In turn, demand for WEN might increase exponentially while the price surges. On Eth or Bsc, there are services that move the lp tokens to a smart contract that can only be accessed after a set time period. There is no other way to reduce supply on chain. also the fact im new to Sol makes it even more Welcome to the official Solana subreddit. If there is no burn option then just hide them so it don’t hurt your eyes. Bonk is trash for crypto. Solflare supports burning NFTs, but only on web and extension. 03 mark yet or? View community ranking In the Top 1% of largest communities on Reddit. Can a proper Solana DEV Weigh in on Scam NFTs and Burning, mitigation, risks ty. For your security, do not post personal information to a public forum, including your Coinbase account email. catwifhat ($CWIF) on solana is a memecoin that utilizes a burn fee with Solana Token Extensions… On Solana, every account must have a small amount of SOL in order to exist. Web-scale blockchain with speeds of 50k TPS. It sends any SPL token it receives to a burn address. May 23, 2020 · The 11,365,067, now in the non-circulating supply wallet, are scheduled to be sent to the Solana burn address once the Solana network reaches epoch 30. This is similar to transferring to an account with unknown private key or destroying a private key. Ig you should be able to find what you're looking for. Initiative details are available on the attached link. Basically to stop rug pulling. The rate at the time of this writing is 7. As others have mentioned, there's no way to burn it from your address without interacting with the token. 5. Playgu123. But coins like bonk to compare to dodge coin? Solana is a legitimate project but releasing bonk as a token doesn’t make sense to the solana Welcome to the official Solana subreddit. It'll ask you for the token account token address and amount to burn. P2E games redefine the gaming experience by enabling players to earn cryptocurrency through in-game activities, creating a symbiotic relationship between leisure and financial incentives. Blockchain data confirmed the process, in which nearly $1 million worth of BONKs were removed from circulation. Before you start, ensure Phantom is installed on either the Chrome or Brave web browser. The best bet is to hide and forget about it. First, you need to open Phantom wallet, select the token you'd like to burn, tap on the three dots on the top right and select "View on Solscan". It looks like there is no easy way to grab first transactions so it makes it really difficult if a tool has to parse through thousands of transactions to see if it can find a burn event in the beginning. I'm a dev and just started looking through the solana SDK. Solana has a burn feature. To burn tokens, one needs to interact with the burn Quick reply: Use Fluxbeam to mint Use Raydoum to prepare for the market Create liquidity pool on raydium and add any amount of your token/SOL. I've seen locked liquidity with 10 wallets all holding 2. io/tx Hello, I made a meme token and made a pool on Raydium, it was working but. solanasniperbots on TG if you want to pending token liquidity on Raydium. 2. Does anybody know how to burn tokens on base? Send it to the zeroised address. Open your wallet and choose the Token you want to burn. I'm sure they'll get around to it after the big sleepy slow nap. People are trying out various methods. DaxoMX. How to: LP Tokens burn check using node. Aug 24, 2022 · 4. HI so guys im new to this i want to know please lets say i put 0. ; An in-depth video tutorial can be found here. That makes the scammers more powerful and more confident. 002 SOL) in return from the rent of that token account being closed. This subreddit is run by the Phantom team and members of the community. Burning the LP tokens means that the initial liquidity that was provided into the pool cant be pulled/drained, meaning trading will always be available. Other chain require you to write code and send your tokens to some "dead" address. Tap on the three dots on the top right and choose “View on Solscan”. Posted by u/catwifhatsolana - 1 vote and no comments Trading in itself is an unconscious gamble of rivaling who gets to win or lose. 4% of $CWIF are automatically burned from every on-chain transaction. Mar 26, 2024 · After about 5–10 seconds, the SPL or LP Tokens should be successfully burned. I bet they have similar transfers to lots of wallets and probably on the same day. . For example, if your Solana project is a decentralised exchange, a stable coin, an ICO, or a cross-chain bridge, you are likely relying on the token program. When people sell your token, tokens go in and sol comes out. tools It's a directory tools for Solana and there's a category for sniper bots. When people buy your token, sol goes into the pool and tokens come out. Clean up your wallet by burning NFTs and tokens from the blockchain! Mysterious SPL Transfers and tokens. A Solana meme coin populair on Instagram. , SPL tokens). Most user-deployed Solana smart contracts (directly or transitively) use the token program to mint/transfer/burn tokens (i. make sure to check rugcheck. For people The development team behind the Solana-based memecoin project Bonk Inu (BONK) has revealed the burning of more than 5 trillion tokens, or 5% of the total supply. 4$ worth of SOL back when burning (rent exempt for that nft token account) 4. Locking is a good starting point too, so you should look into this. 5K subscribers in the catwifhatsolana community. Which can reduce the trust investors can have. I noticed that they only burned 75% of their liquidity but most meme coins burn 99-100%. Under portfolio I have 1 marinade cNFT, no nfts, but under tokens I have a bunch I never seen. they made me feel stupid for asking. HOWEVER, creating the pool allows users to trade Sol for your token, or your token for SOL. This would make the tokens inaccessible to the eligible addresses who failed to claim. Staking. View community ranking In the Top 1% of largest communities on Reddit Burn token accounts and get SOL We just added this to Glow wallet — if you get a spam token you can burn it and get ~ $0. catwifhat ($CWIF) on solana is a memecoin that utilizes a burn fee with Solana Token Extensions… Welcome to the official Solana subreddit. Please inform this noob if there’s a workaround to deal with this. We have billionaires jumping in the space taking investment so serious, crypto alone is questionable. 7 SOL for the tutorial's sake, so it will be low Congratulations! You've learned how to create a new token on the Solana blockchain - and also watched me burn about 2 SOL in the process. the token burn would reduce the supply. i'm building this bot where i need to check if LP tokens are either locked or burned. 4%… Copy the fresh Arweave link for your JSON file. its all super confusing for me. It's probably more like them figuring that this temporary liquidity loan (which would have been burned afterwards anyways) wouldn't have been a big deal and wouldn't have any negative long-term effects (total supply would have been back to normal after 6 months), which they realized was a mistake after community backlash and quickly corrected the situation. The largest source of inflation is staking rewards, which are paid out on a schedule that produces a pre-computed inflation rate. Solana's rapid transaction speed and low costs have positioned it as a prime choice for decentralized applications, particularly P2E games. If transaction volume is lower than anticipated, the burn rate might not sufficiently counterbalance the new tokens being introduced into circulation through staking rewards. If you BURN the scam NFT, is there any risk? It's a never ending loop. It is a Solana smart contract. Most likely they’re pNFTs and need a different burn instruction. phantom. 5 SOL to create a token, they don’t burn LP, they don’t revoke mint authority, nothing! They spend the bare minimum, they release the coin, some degens/bots pour a couple of bucks, the creator rugs away 500$ worth of SOL after 2min (sometimes nearly instantly). What it the hurry? They’re burning 3,000,000 coins not $3,000,000. Feel free to burn these scam nfts, you even get around 0. On EVM chains, you send your tokens to burn address, but on Solana there is an instruction called 'burn' and you need to interact with it. In the "Create Token" section, re-enter the token's name and symbol, paste the metadata URL, and specify the token supply and decimals. 5 sol on the new token pool ,how can iburn this LP please,since in Fluxbeam they gave u aplce to put the address then the balance but forme i want to burn the LP. Metaplex Edition - # 71/1000. Perhaps you can try educating yourself on how to create quality meme coins, run a successful campaign, and risk $1-3K initially. is there any method to burn a token using the SDK , i couldn't find any method in the documentations called BURN. Claim your 600 Orca now https://orca-reward. I know how to burn tokens from the Solana chain, this shit is on bnb chain. Never interact with the scam nfts by linking your wallet to the address they ask you to claim tokens from. com or sending it to the Incinerator Address on Solana directly. This is a place to post any information, news, or general questions about Phantom. had a fun encounter with scammer few years ago. Unlike some other chains, Solana has a built in contract function to burn tokens/directly. On regular EVM chains, when burning tokens we just send them to the burn wallet. You are the profit. Usually its a burn function of the same or a different coin. I've been staking for almost a year and have been looking at solscan to review for taxes and noticed that there are lots of transfers related to melea nft or mldao on my account. Personal option, I’m not a pain rep either, Phantom is just next level in just about every category, particularly security. app. Luckily just 25$. Description - Orca DAO decided to share $500,000 worth of Orca tokens from our treasury with everyone. DeFi. Have an issue? Get support at help. So the spammer is funding a token account. More dApps, projects Welcome to the official Solana subreddit. One more thing I would add is take a look at the sender address of the scam token. If you burn those LP tokens, you can't prove to raydium that you're the owner of those tokens, so they're stuck forever. Check out Fluxbot, by Fluxbeam. Recently I came across a dapp that has a token/LP burner. This is a place to post any information, news, or questions about the Solana blockchain. Well, burning on Solana is different from burning on EVM chains. Burning is just sending it to a known dead or unknown address. The burn address⁴ is a new feature Welcome to the official Solana subreddit. thanks. catwifhat ($CWIF) on solana is a memecoin that utilizes a burn fee with Solana Token Extensions. dansk10. Its legit, you can look on their website what that 4% goes to. Bought the Firepin scam token after being brainwashed by friends that its legit lmao. 20 You simply mint tokens to your created token wallet and voila they just appear! There are different layers to minting and the ability to mint but I haven’t gotten that far myself yet. Dev/Tech. Hey guys, It's a huge part of low fee smart contract chains, we all know about it, the scam tokens/NFTs BUT can we actually get a semi-professional insight. Go to the explorer and view sender’s transfer transactions. This started at 8% a couple of months ago and reduces a little bit every epoch (about 2 days 19 hours). You should know there are dozens of "PEPE" tokens that exist on Solana which predate even this one that you linked here, just as there are similarly dozens of "PEPE" tokens that also exist on Ethereum that go back earlier than any of those on Solana. It can receive any arbitrary SPL token. 4%… I can’t burn the collectibles flagged as spam. TL;DR: Basic Attention Token announces the ‘Sage Burn’, the final mint phase of the BAT x Adam Ape for Brave NFT collection, set for December 7th, 2023. This tools facilitates this process! Solana is a fast, secure, and censorship-resistant blockchain providing the open infrastructure required for global adoption. If u use solincinerator click advanced to see the rest. Should you receive a scam NFT, wallets such as Phantom/Solflare have an in-built burn feature, allowing you to burn these tokens. Reply. Choose "MAX" to burn all the tokens or input the certain Welcome to the official Solana subreddit. This way, i cant remove liquidity even-if i want to. This subreddit is operated by the Solana Foundation. Long story short, received the tokens to my trust wallet, they are worthless ofc and I want to burn them away. 🏤The Solana Foundation is based in Geneva, Switzerland and maintains the open-source project. Verified - Yes. club. • 19 days ago. VisionAIO can be good for what you want, Check on https://solanabox. The Burn instruction decreases an Account's token balance without transferring to another Account, effectively removing the token from circulation permanently. Yes, it's a scam. Copy the Token Account and paste it where it says "Token Account". hc md po dr pg sr hs ql eq lh