@@ -21,11 +21,11 @@ With any form of transaction, there's often a desire to collect or apply a fee.
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Similar to a small service charge every time you transfer money at a bank or the
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way royalties or taxes are collected for particular transfers.
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- With Token Extensions, the ` TransferFee ` extension allows you to configure a
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- transfer fee directly on the Mint Account, enabling fees to be collected at a
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- protocol level. Every time tokens are transferred, the fee is set aside in the
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- recipient's Token Account. This fee is untouchable by the recipient and can only
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- be accessed by the Withdraw Authority.
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+ The ` TransferFee ` extension allows you to configure a transfer fee directly on
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+ the Mint Account, enabling fees to be collected at a protocol level. Every time
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+ tokens are transferred, the fee is set aside in the recipient's Token Account.
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+ This fee is untouchable by the recipient and can only be accessed by the
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+ Withdraw Authority.
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The design of pooling transfer fees at the recipient account is meant to
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maximize parallelization of transactions. Otherwise, one configured fee
@@ -36,8 +36,6 @@ In this guide, we'll walk through an example of creating a mint with the
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` TransferFee ` extension enabled using Solana Playground. Here is the
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[ final script] ( https://beta.solpg.io/6570e5b7fb53fa325bfd0c4e ) .
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- Let's get started!
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-
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## Getting Started
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Start by opening this Solana Playground
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const lamports = await connection .getMinimumBalanceForRentExemption (mintLen);
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```
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- With Token Extensions, the size of the mint account will vary based on the
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+ With Token Extensions, the size of the Mint Account will vary based on the
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extensions enabled.
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## Build Instructions
@@ -486,6 +484,7 @@ transaction on the SolanaFM.
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## Conclusion
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- The ` TransferFee ` extension makes it much easier to handle transfer fees,
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- integrating them at the protocol level. It offers a superior UX for users and
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- dApp developers, opening up new possibilities and use cases.
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+ The ` TransferFee ` extension enables token creators to enforce fees on each
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+ transfer without requiring extra instructions or specialized programs. This
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+ approach ensures that fees are collected in the same currency as the transferred
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+ tokens, simplifying the transaction process.
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