Introduction
Many people have benefitted from blockchain technology in token generation. SolHub is a platform that makes it easy for anyone to create their tokens. Its Tax Token Creator on the Solana blockchain allows beginners to release tokens with integrated transaction fees for generating revenue or funding projects.
In this article, I will take you through the process of setting up and creating your tax token on SolHub with basic language to enable new users to follow along easily.
What is the SolHub Tax Token Creator?
The Tax Token Creator in SolHub is fairly convenient if a user wants to create tokens with a particular transaction fee called “tax tokens.” These are cryptographic tokens that are integrated with a tax that is incursive to the transfer of every token, this tax can be used to finance a venture, to compensate the holders of tokens, or to create a community.
Guidelines for Issuing a Tax Token on SolHub
While on the SolHub Tax Token Creator page, there are several fields or options you’ll come across to create the token of your desire. Here’s how to go through each section step-by-step:
Select Your Wallet
At the top right, they are to click on Select Wallet. You can connect mainstream wallets like Phantom, Solflare, Torus, or Ledger Wallet if you wish.
Enter Basic Token Information
- Name: Enter the name of your token in the “Put the name of the token” box.
- Symbol: Beside the name field you have the Symbol box where you can set a shorthand for your token which would be SolHub Token if entered as SOLT.
Decimals and Supply
- Decimals: In decimals where you express the precision of your token like 2 means it will divide up to the hundredth.
- Supply: Enter the number of tokens you wish to create at the beginning of Supply at the beginning of the token creation.
Token Image and Description should be customized
- Image: This one is as easy as dragging or clicking an image into the box that is provided. SolHub advises that it is best to keep the logo simple, with an area of 1000×1000 pixels.
- Description: Include a short description of what your token is for, or what purpose it serves. Also, this can help others explain the purpose of the created token.
Setting up basic token details using SolHub’s Tax Token Creator.
Set Transaction Fees
- Fee %: The “Fee %” field makes it possible to select the percent fee for every transaction. For instance, if you choose this at 10, then overall, for each transaction, you will be charged 10 percent.
- Max Fee: This setting limits the maximum fee for transactions that a user will be charged so that the fee is reasonable to all token holders.
Define the Wallet Authorities
- Authority Wallet: Please input the wallet address that will be assigned the admin rights to your token. This is crucial in managing the security of tokens to give the outcome necessary for success.
- Withdraw Authority: This address will econ troll transaction fees. Make sure this is a reliable wallet since this will hold your token’s revenue.
For Further Customization, You Should Use Extensions
By toggling Use Extensions, you can access advanced options:
- Permanent Delegate and Permanent Address: This provides permanent authorities for controlling the token, However, this grants ongoing rights for managing the token.
- Interest Bearing Rate: If you wish, put the number of tokens per day at which you want holders to receive interest.
- Non-Transferable Option: You can make the token nontransferable in case it is necessary.
Finalizing Your Token Creation
When entering the information in each field also check the entered information to avoid mistakes. When ready, click Create Tax Token in order to complete the process. It will be safe to say that the transaction will be recorded, on the Solana blockchain.
Conclusion
The SolHub Tax Token Creator is easy to use and allows would-be tax token founders who have no coding background to create their tokens on the Solana network. You could then choose the token-specific attributes or characteristics of its transaction fee, supply, and wallet authority. Whether it is for community rewards or development funding, SolHub shows that creating and managing your token is effortless via its platform.
Frequently Asked Questions
- What is a Tax Token?
A tax token may comprise transaction fees that may be used to finance development, reimburse holders, or support noble causes.
- What setting can I alter to change the transaction fee?
In the “Fee %” field enter the percentage that will be charged per transaction. For example, when the trader decides to enter “10,” that means a 10 percent fee will be charged per sale made.
- What is the maximum fee?
Max Fee controls the transaction fee in each transaction to ensure that large transactions do not charge exorbitant fees.
- What was the withdrawal authority?
This is the wallet address that holds those fees paid in every transaction. It means that you should use a secure address to be able to manage all your project’s financial aspects efficiently.
- Can I edit my token later?
Although some parameters are set in stone once the token has been created, maintaining the update authority means the ability to change some parameters in the future.
