Solana launches new token extensions – Here are the details
Solana’s 13 token extensions
On 24 January 2024, the network unveiled its 13 token extensions. Except for confidential transfers, all extensions are currently available for use. Confidential transfers will become accessible once the network adopts version 1.17, anticipated by February 2024.
Why do Solana’s token extensions stand out?
Token extensions have varied use cases and can be tailored to cater to various industries, including stablecoins, real-world assets (RWA), and payments. Key features include transfer hooks, transfer fees, confidential transfers, permanent delegate authority, and non-transferability.
Adoption by industry giants
Industry leaders such as Paxos and GMO-Z com Trust Company Inc. (GMO Trust) are already leveraging these extensions to issue stablecoins on the Solana blockchain. Paxos, a leading regulated blockchain infrastructure platform, expanded its stablecoin issuance to Solana in December 2023.
