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”.

Token manager pop-up

How to create a token from Squads

1. Navigate to the "Token Manger" tab and click on 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.

Select token standard pop-up

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

• Token name and picture

• Token symbol

• Token description (optional)

• Freeze authority (optional)

• Token decimals

Add token pop-up

4. 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.

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

How to mint tokens from Squads

1. Click on the "Token Manager" tab, locate the token which you would like to mint and click on the "Mint" button.

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 pop-up

How to burn token supply from Squads

1. Navigate to the "Token Manager" tab, locate the token which supply you want to burn and click on the "Burn" button.

2. In the pop-up fill in the amount of tokens you would like to burn. Click on the "Burn token" button to launch a transaction.

3. The indicated token amount will be burned after the transaction has reached the confirmation threshold and been executed.

Burn token pop-up

How to update your tokens metadata

1. Click on the "Token Manager" tab, locate the token you want to edit and click on the "Update Metadata" button.

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. Freeze authority (optional)

   5. Token decimals

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

How to transfer the token authority to/from 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" tab. Click on the "+Add Token" button and 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 token authority from your Squad:

1. Navigate to the "Token Manager" tab. Locate the token which authority you would like to transfer and click on the "Change Authority" button.

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

Change token authority pop-up

How to freeze 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. Go to the "Token Manager" tab and click on the "Actions" button for the token you want to freeze an account for.

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.

How to transfer 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. Navigate to the "Token Manager" tab and click on "Transfer". From the drop-down menu, select "Freeze Authority".

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.

How to burn 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.

How to burn freeze authority:

1. Go to the "Token Manager" tab and click on "Burn". From the drop-down menu, choose "Freeze Authority".

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.