SPL tokens are Solana's native fungible token standard - the equivalent of Ethereum's ERC-20. Every token built on Solana, from USDC to memecoins, is an SPL token. Here is everything you need to know.
SPL stands for Solana Program Library - the collection of on-chain programs (smart contracts) that power the Solana blockchain's core functions. The SPL Token Program is the specific program responsible for creating, minting, and transferring tokens on Solana.
When someone says "SPL token," they mean any fungible token created using the Solana Token Program. This is Solana's equivalent of ERC-20 on Ethereum - a standard interface that makes every SPL token automatically compatible with all Solana wallets, DEXs, and DeFi protocols.
SPL tokens are managed by the Token Program, a single on-chain program that all Solana tokens share. Unlike Ethereum, where each ERC-20 token is its own deployed smart contract, Solana tokens are data accounts controlled by the shared Token Program.
Each SPL token has a mint account - a unique address on Solana that represents the token itself. The mint account stores the token's metadata URI, current supply, number of decimals, and which wallets hold authorities over the token.
When a wallet holds an SPL token, Solana creates a token account for that wallet-token pair. This is different from Ethereum where token balances are stored inside the token contract itself. Token accounts cost a small SOL rent deposit (currently around 0.002 SOL) to create. This is why sending an SPL token to a wallet that has never held it before requires slightly more SOL than a standard transfer.
SPL token metadata - name, symbol, logo, description, and social links - is stored in a separate metadata account using the Metaplex metadata standard. This is the metadata URI that wallets and DEXs read to display your token's name and logo correctly.
| Property | SPL Token (Solana) | ERC-20 (Ethereum) |
|---|---|---|
| Token program | Shared Token Program | Individual contracts |
| Transfer fee | $0.0001-0.001 | $0.50-$10+ |
| Confirmation time | ~400 milliseconds | ~12-60 seconds |
| Metadata storage | Metaplex on-chain | Off-chain URI (IPFS/server) |
| Primary DEX | Raydium, Jupiter | Uniswap, Curve |
| Cross-chain bridging | Wormhole bridge | Many EVM bridges |
| DeFi ecosystem size | Large and growing | Largest in crypto |
When you create an SPL token, your wallet is assigned three authorities. These can be held, transferred, or revoked:
The mint authority controls who can create new tokens. As long as a mint authority exists, whoever holds it can increase the total supply at any time. Revoking mint authority permanently caps the supply - a critical trust signal for any token. Most memecoins and community tokens are expected to have this revoked.
The freeze authority can freeze individual token holder accounts, preventing those holders from transferring their tokens. This is a concerning power from a holder's perspective. Revoking freeze authority means no one can ever freeze a holder's account.
The update authority controls who can change the token's on-chain metadata - its name, symbol, logo, and description. Revoking it locks the metadata permanently. This is recommended once you are happy with your token's branding.
Token-2022 (also called Token Extensions) is an upgraded version of the Solana Token Program. It adds advanced features including:
Standard SPL tokens created on Launchify use the original Token Program, which is the correct choice for fungible tokens, memecoins, and community tokens. Token-2022 extensions are designed for specific DeFi use cases.
SPL tokens can be traded on any Solana DEX immediately after creation, provided liquidity has been added. The main trading venues are:
The fastest way to create an SPL token without code:
For a full walkthrough, see the complete guide to creating a Solana token.
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