SOLToke FAQ

Question 1

What is Rent?

Accepted Answer

Token accounts require a small, refundable deposit of SOL to remain active, typically around 0.002 SOL. You can reclaim this fee when you no longer need the account.

Question 2

When should I close token accounts?

Accepted Answer

When you don't plan on holding or trading the token in the near future. You can always re-open the accounts again in the future.

Question 3

Why would I open token accounts manually?

Accepted Answer

You don't need to - most wallet software opens accounts automatically when you send a token, but you might want to open them manually to control who funds Rent and when. If you buy a token on a centralised exchange & try sending it to your hardware wallet, for example, some of that token will usually get converted to SOL in order fund rent if you don't have a token account available already.

Question 4

Are there any service fees?

Accepted Answer

SOLToke takes a 6.5% fee compared to the market average of 10-20%.