Sirwin
Sirwin

Sol-Incinerator: Burning Unwanted Solana NFTs

By GetBlock | GetBlock | 19 Apr 2024


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With the cheap Solana transaction fees, you can end up finding a lot of unwanted, non-liquid tokens in your SOL wallet, from depreciated NFTs to outright scams. That’s where the Sol-Incinerator dApp can help.

Built by the Sol Slugs community, it enables you to organize and reclaim space in your digital life, quickly burning useless assets on the Solana blockchain to obtain pure SOL coins.

Let’s see how much you can reclaim and how to do that.

 

Setting Up the Incinerator

When you open Sol-Incinerator, you see the prompt to connect your Solflare wallet. After doing that, you can access various categories of Solana-based tokens in your wallet. In the example below, you see that no stuff is present.

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Image from Sol-Incinerator

If there are any NFTs connected to your wallet, you’ll see them immediately, along with their graphical representation. After that, you can burn the unwanted asset by simply pressing a button. So, you need no RPC node and manual token burning to free your wallet.

 

Reclaim SOL by Burning Unwanted Assets

The key to this service is its ability to close the token accounts associated with these assets, which then releases the SOL that had been locked up as "rent" for holding these tokens. The typical return for burning most NFTs is about 0.01 SOL in case the NFT metadata are available. In other cases, the return sum is lower.

 

  • For burning the ordinary (fungible) tokens you obtain only about 0.002 SOL.
  • For burning the NFT protected by MagicEden's OCP, you reclaim only 0.004 SOL.
  • For burning the compressed NFT, you obtain nothing, as they’re stored off-chain.

 

With that, you become free from the burden of rent paying for unwanted tokens and can obtain a small reimbursement. In addition, by using the Jupiter DEX platform you can swap Solana for alternative tokens, such as USDT, USDC, and other Jupiter assets.

No Fees and Additional Perks

When using Sol-Incinerator you don’t pay any direct fee. 

Instead, a minor fraction of the reclaimed SOL is charged to fund the ongoing development of the platform. Besides its primary function, Sol-Incinerator can also handle other types of assets like .sol domains and offers liquidity providers (LP) token burning if you can upgrade to the Pro version. 

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Image from Sol-Incinerator

This premium service also includes a specialized 'Unknown' tab to help identify and manage assets not recognized by the system, ensuring users have all the information they need before making irreversible decisions.

You can quickly overview what all these Solana asset types mean using the descriptions below.

NFTs are Solana-based tokens with unique specifications, often representing digital art or collectibles.

Tokens (fungible) on Solana are tokens that can be freely exchanged, similar to coins in traditional currency systems.

Domain names in the Solana network are custom wallet names, allowing users to personalize their wallet addresses for easier identification and use.

Cleaning the Wallet After the Burn

After the assets are burned, some residual empty accounts may remain. 

To address this, Sol-Incinerator includes a Cleanup feature that identifies and safely closes these empty accounts, allowing you to reclaim even small amounts of SOL that were previously used for data storage rent. 

So even if you don’t have trash NFTs in your wallet, you can use this feature to address possible residual accounts and reclaim SOL from them, too.

 

Wrapping Up: Maximize Your Solana Experience

Sol-Incinerator leverages the full potential of the Solana blockchain to help users efficiently manage their digital wallets, reducing renting fees. They can reclaim money they were forced to pay for keeping unwanted assets of various kinds and clean their wallets from residual accounts. 

Premium features include the ability to burn LP tokens and various other types that cannot be recognized as NFT or ordinary tokens.

Use GetBlock to power your Solana applications, using its nodes along with your cleansed wallet. It’s a good time to start realizing your app idea using a Solana RPC node, along with more than 50 other blockchains for any destination.

 

F.A.Q.

Let’s summarize how you can use Sol-Incinerator to get rid of unwanted tokens and reclaim your SOL. If you’re stuck, connect with Sol Slugs in their community to ask any questions.

How do users reclaim SOL from burning assets with Sol-Incinerator?

By terminating token accounts, the previously paid SOL deposits are released back to the users. Therefore, after the burning, coins return to your wallet.

How much SOL can users expect to reclaim from burning?

The amount of reclaimed SOL generally ranges from 0.002 to 0.01 SOL per token, depending on the asset type and metadata. Off-chain assets are kept outside the Solana chain and so cannot be reimbursed at all.

What does the Cleanup feature offer?

The Cleanup feature identifies and closes empty tokens and unused serum accounts, helping users recover and reclaim additional SOL previously used for data storage rent.

Are there any fees associated with using Sol-Incinerator?

There are no direct fees, but a small portion of the reclaimed SOL is retained. According to their website, they charge from 0.00051 SOL for NFT burn to 0.00335 SOL for serum account close. When you cannot reclaim any SOL, such as when burning compressed NFTs, Sol-Incinerator doesn’t charge anything.

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GetBlock is a Blockchain RPC provider that offers fast and easy API connection to full nodes of 50+ blockchains, including Bitcoin (BTC), Ethereum (ETH), Binance Smart Chain (BSC), among others.


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GetBlock is a service that provides a fee-free connection to blockchain nodes of the most popular cryptocurrencies. We support such tools like JSON-RPC, REST, and WebSockets, which facilitates direct synchronization with the blockchain.

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