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I was today years old when I learned that you can earn SOL by 'incinerating' old tokens and NFTs

I was today years old when I learned that you can earn SOL by 'incinerating' old tokens and NFTs

Solana used to be an extremely active ecosystem for random memecoins, tokens, and NFTs, but now that craze seems to have died down.

I don't trust memecoins and random tokens, which means I generally get rid of airdrops the second they reach my wallet.

But, recently, I was doing some 'housekeeping' and found out you can actually 'reclaim' SOL.

First, I found out you can simply close the account and reclaim SOL that had been used to 'rent' that token account and keep it open.

Then, today, I found something called Sol-Incinerator.

It's a thing.

Why is there SOL hidden in your wallet?

Every time you interact with a new token, mint an NFT, receive an NFT, receive an airdrop and so on, Solana creates new storage account on the blockchain.

In order to do that, it requires a small storage deposit of real SOL - known as 'rent-exemption' - to keep that data live on-chain (typically around 0.002 SOL per token account, and even more for NFTs with complex metadata).

When you sell, swap, or send away a token, that token balance hits zero but the empty account remains open, and your SOL storage deposit stays locked inside it indefinitely until the account is explicitly closed.

Sol-Incinerator is an non-custodial Solana dApp designed to sweep everything away and recover locked and unused funds.

It detects zero-balance token accounts and also destroys worthless spam tokens, rugged NFTs, dead memecoins, and so on.

It's compatible with all main Solana wallets and it works a treat.

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LeftFooted
LeftFooted

I’m a left-footed duck that loves writing. I write about cars, watches, craft beer and, you’ve guessed it, crypto Also active on read.cash


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