Developing with Token Extensions on Solana
Start Digging into Developer Resources
Start digging into developer resources: Documentation, Guides, Tutorial playlist.
Token Extensions in Action
Some stablecoin issuers using Solana have already started implementing token extensions. Paxos, for example, recently leveraged permanent delegation, metadata pointer, transfer hooks, and more to launch their USDP stablecoin. GMO Trust announced the first regulated Japanese yen stablecoin as well as their own U.S. dollar stablecoin on the Solana network, which uses permanent delegation, default account state, and the metadata pointer.
Solana’s Rise to Prominence
Solana, already a leading blockchain network due the protocol’s scalability-focused design and ecosystem-wide innovations such as state compression, has become the place for developers to innovate and build businesses using blockchain technology. Recent reports noted that the Solana network processed 40.7m daily user transactions in Q4 2023, and Solana was the top non-EVM chain for new developers.
Industry Partnerships and Adoption
The last twelve months have seen payments giants Visa and Mastercard choose to build with Solana, the launch of new stablecoins like Paxos, and the rise of new business use cases from Helium’s decentralized sensor network to real-life tea house company Boba Guys’ Solana-powered loyalty program.
Get Started with Token Extensions
Interested in building with token extensions? Developers can learn how to set up token extensions here, or reach out to set up a call with the Solana Foundation to learn more.
Conclusion
Solana has established itself as a leading blockchain network, and its scalability-focused design and ecosystem-wide innovations have made it an attractive platform for developers to innovate and build businesses using blockchain technology. With token extensions, developers can now leverage permanent delegation, metadata pointer, transfer hooks, and more to build new and innovative use cases.
FAQs
What is token extension? Token extension is a feature that allows developers to build on top of existing tokens, providing more functionality and capabilities.
How do I get started with token extensions? Developers can start by learning about the documentation, guides, and tutorial playlist available on the Solana website.
What are some use cases for token extensions? Token extensions can be used for a wide range of use cases, including stablecoins, decentralized finance (DeFi), non-fungible tokens (NFTs), and more.
How do I set up a call with the Solana Foundation? Developers can reach out to the Solana Foundation through their website or through the link provided in the article.
What are the benefits of building on Solana? Solana provides a fast, scalable, and secure platform for building decentralized applications, making it an attractive option for developers.
