Dev Tools · 1h ago
Solana Token Extensions Let Issuers Lock and Delete Your Assets
Solana's Token-2022 program enables non-transferable tokens with permanent delegate authority, allowing issuers to burn or move tokens from any holder's wallet without consent. The feature is already used in production, such as Paxos' USDP stablecoin for regulatory clawbacks. This challenges the core blockchain promise of user-controlled ownership.
Meridian48 take
The article correctly highlights a tension between blockchain ideals and real-world compliance, but the ability to revoke tokens is a feature, not a bug—it's what makes regulated assets viable on public ledgers.
solanatoken-extensions