Create a 2022 Token on Solana
Check out the steps below for how to create a token on Solana with PinkSale using your Phantom wallet on your desktop.
From the homepage: https://beta.pinksale.finance/ click on “Token" => "Create Token"
To create a token, inputting all required fields.
Decimals and the total supply must be a positive number.
Decimals must be greater than or equal to 9.
Tick to Enable Transfer Fee Config
Transfer Fee percent (%): fee assessed on every transfer, as basis points of the transfer amount. For example, with 50 basis points, a transfer of 1,000 tokens yields 5 tokens
Max Transfer Fee: cap on transfer fees. With a maximum fee of 5,000 tokens, even a transfer of 10,000,000,000,000 tokens only yields 5,000 tokens
Mint Authority: is required to sign a transaction that actually creates new tokens (aka mints new token). So if create a fungible token called TokenX, and initially mint 10 tokens for a total supply of 10. You can later come back and mint new additional tokens into the max supply when this mint authority signs the transaction. raising the total supply of your fungible token.
Freeze Authority: can "freeze" the tokens inside a wallet. So the owner of the tokens would not be able to move/transfer/sell them to a different wallet. think of this sort of like one way to create non-transferable tokens (aka soul-bound tokens).
Update Authority: On Solana, smart contracts are stored in executable accounts containing the program binary. Each such account has an upgrade authority. This authority can replace said smart contract at will. Read more at: https://spl.solana.com/token-2022/extensions#transfer-fees
After that, click "Create" and Phantom wallet will now ask you to confirm the transaction. It will also show you the fee that you are required to pay for that transaction. If you agree, then click on the “Confirm” button to finish the process.
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