Key takeaways
Token extensions allow for digital assets with novel functionalities and capabilities.
Squads Token Manager now enables Squads users to mint tokens with Solana’s Token Extensions program
Squads users can now update their token’s metadata from the Squads app.
Token Extensions
Since the end of 2023, Solana’s transaction volumes have been able to keep up, and even temporarily surpass, that of Ethereum.
This activity has been catalyzed by airdrops and token launches — such as the ones from Jito and Jupiter — as well as the broader rise of memecoins such as BONK and WIF.
On the back of memecoins, platforms such as pump.fun have even generated more revenue than the underlying network, highlighting the healthy growth of the Solana ecosystem.
https://x.com/DegenerateNews/status/1790594401485377905
Solana tokens, whether governance tokens or memecoins, have been doing astonishingly well.
With Token Manager from Squads, teams and developers can mint, burn, and manage the authorities of their tokens, simplifying token management.
Now, Token Manager also enables the use of Solana’s token extensions.
Token extensions expand the Solana Program Library (SPL), ringing in a new era that represents a significant leap forward in what is possible on public blockchains. At its core, the program allows developers to choose 13 individual token extensions or combine multiple to design digital assets with novel functionalities and advanced capabilities that were not possible on public blockchains.
Head over to our docs to learn more about how Token Manager enables you to mint tokens with the Token Extensions program and the Metadata extension right from the Squads app.
Metadata Updates
Now with Squads Token Manager, you can update your token’s metadata directly from your Squad. You can update metadata and edit token metadata for SPL Token and Token Extensions programs.
Head over to our docs to learn more.
Take advantage of Solana's token extensions and the ability to update token metadata using Squads!
About Squads Labs
Squads Labs is a core contributor to Squads Protocol, the leading multisig infrastructure on Solana. In addition to helping maintain the protocol, Squads Labs makes the Squads platform, an institutional-grade multisig platform for Solana-based teams. The Squads platform helps web3-native teams manage and secure digital assets on-chain. To learn more about Squads Labs, please visit https://www.sqds.io/.
About Squads Protocol
Squads is a multisig protocol that helps web3-native teams manage and secure digital assets on-chain. Squads Protocol v3 is the first formally verified program on Solana. Squads Protocol v4 introduces time locks, spending limits, roles, sub-accounts, fee relayers, multiple-party payments, support for SquadsX and more. Squads v4 has already been audited by Neodyme, OtterSec, and Trail of Bits. It is currently undergoing two formal verifications, one by OtterSec and the other by Certora. To learn more about Squads Protocol, please visit https://squads.so/protocol
