MultiversX Tracker is Live!

Solana wants to implement taking control of your assets.

All Cryptocurrencies

by COINS NEWS 169 Views

There has been a raging debate about NFT royalties for some time now, creators are outraged about people are circumventing royalties from the sales of NFTs by trading P2P instead of using a marketplace.

Now this has gone so far as Solana implementing a way for NFT creators(and by extension any token) to take control of your assets 'when needed'.

Problem

NFT projects want to implement a Harberger Tax on the tokens, which requires the ability for an external authority to take over the tokens if needed. A few other projects have expressed the desire for something similar, so it's time to add it in finally.

Solution

Add the ability for mints to specify a "permanent delegate" during initialization, that can always transfer or burn tokens, similar to a normal delegate, but with an unlimited amount, and that can't be revoked.

Also, adds a warning during account initialization that the tokens can be seized, which will probably be useful for people hit by the Harberger Tax.

Github proposal: https://github.com/solana-labs/solana-program-library/pull/3725

submitted by /u/Rough_Data_6015
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments