Token Manager

Learn how to manage tokens inside your Squad.

Users can mint, burn and manage authorities of their tokens inside their Squad using the “Token manager”.

The Token Manager is only accessible to users with a Squads Business or Enterprise plan. Learn more about our pricing and plans here.

Token Manager

Creating a token from Squads

1. Navigate to the "Token Manager" page under the "Developers" section in the navigation tab. Click the "+ Add Token" button. Select the "Create Token" option inside the pop-up.

2. Select the SPL Token Standard or the New Token Extensions Program option.

Token creation popup

1. Fill in the required data within the pop-up window. The data includes:

• Token name and picture

• Token symbol

• Token description (optional)

• Token decimals

Create Token popup

1. Click "Create" to generate a transaction on the Transactions page to be approved by the multisig threshold.

To create a new token, you will need a minimum of 0.003 SOL in your Squad vault to cover the cost of creating ATA for this token.

1. Your token will be created and appear inside the "Token Manager" tab upon transaction execution (more on transactions here).

Minting tokens from Squads

1. In the Token Manager, click the "Actions" dropdown and click the "Mint" button under it.

2. Specify the amount of tokens you want to mint and launch the transaction.

3. After the transaction has been executed, your token will appear in your Squad vault.

Mint Token popup

Updating your token's metadata

1. In the Token Manager, click the "Actions" dropdown and click the "Update Metadata" button under it.

2. Update the specific fields within the pop-up window. All fields that are not updated will remain unchanged. The updatable data fields include:

   1. Token name and picture

   2. Token symbol

   3. Token description (optional)

   4. Update authority (optional)

3. Click "Update" to generate a transaction in the Transactions page to be approved by the multisig threshold.

Creating and editing tokens with a Ledger is not possible because Solana message signing is not yet supported by Ledger

Transferring the token authority to Squads

Users can transfer the token authority to the Squad if they already have the existing token. They can also transfer the token authority which belongs to the Squad to the external wallet at any time.

To transfer the authority of an existing token to your Squad:

1. Navigate to the "Token Manager" page under the "Developers" section in the navigation tab. Click the "+ Add Token" button. Select the "Transfer token authority to your Squad" option.

2. Insert the current token authority address, copy and paste the code into your CLI tool. The CLI code should be run by the current authority. Then click “Change authority”.

To transfer the mint authority from your Squad:

1. In the Token Manager, click the "Transfer" dropdown and click the "Mint Authority" button under it.

2. Insert the new authority address and click "Initiate" to launch a transaction. The mint authority will be transferred upon transaction execution.

Change Mint Authority

Freezing account from your Squad

Users can freeze accounts using Squads Token Manager. Freezing an account allows you to halt all transfers of a token on a specific address.

Please note that to do this the "Freeze authority" of your token needs to be set to your Squad.

How to freeze account:

1. Create or delegate a token and set its freeze authority to your Squad.

2. In the Token Manager, click the "Actions" dropdown and click the "Freeze Account" button under it.

3. Enter the account address and initiate a transaction within your Squad.

4. The token account will remain frozen until you unfreeze it. To unfreeze the account, select "Unfreeze account" from the "Actions" button.

Freeze Account

Transferring the freeze authority of a token

User can transfer freeze authority of a token to a different address using Squads Token Manager.

How to transfer freeze authority of a token:

1. In the Token Manager, click the "Transfer" dropdown and click the "Freeze Authority" button under it.

2. Insert the address to which the freeze authority will be transferred and initiate the transaction.

3. The freeze authority will be transferred to the new address once the transaction is executed.

Transfer Freeze Authority

Burning the freeze authority of a token

Users can use the Squads Token Manager to burn the freeze authority of a token.

Please note that to do this the "Freeze authority" of your token needs to be set to your Squad.

1. In the Token Manager, click the "Burn" dropdown and click the "Freeze Authority" button under it.

2. Add a note (optionally) and initiate a transaction.

3. The freeze authority will be burned once the transaction is executed, making your token immutable.

Burn Freeze Authority

Burning Tokens from Squads

Members can burn tokens in the Squad in the Treasury section.

Learn how to burn tokens in your treasury in our guide here.