7๏ธโฃSolana Token Burning Tutorial
Conveniently and permanently remove tokens from circulation to increase token scarcity or as part of a project commitment, thereby enhancing your project's economic model.
How to Use the Solana Token Burning Tool:
Connect Wallet
Select the Token you want to burn
Retrieve Token Information
Enter the Number of Tokens you want to burn
Submit to the Blockchain to complete the token burning
Preparation:
A computer or a mobile phone
Solana wallet (Phantom Wallet installation tutorial)
At least 0.03 SOL in your wallet
Token contract information and the account address to be frozen
Specific Steps:
Connect Wallet
SlerfTools currently supports various popular Solana wallets, such as Solflare, Phantom, OK Wallet, etc. This guide uses Phantom Wallet as an example.
Solana Token Burning: Burn Token on SlerfTools
Go to the SlerfTools token burning page, where you can switch the language in the top right corner.
Select the token you want to burn.
Retrieve the token information.
Enter the number of tokens you want to burn. After entering the amount, the estimated total circulation after burning will be displayed for verification.
Submit the transaction to the blockchain to complete the token burning.
Before proceeding with token burning, please ensure you fully understand the purpose of burning and its 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. Carefully verify the number of tokens to be burned before submitting the burning operation. An incorrect amount could lead to unintended economic loss.
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