Understanding SPL tokens
SPL (Solana Program Library) is a standard for creating and managing tokens on the Solana blockchain. Similar to ERC-20 on Ethereum, SPL provides a set of conventions and interfaces for both fungible and non-fungible tokens. Fungible tokens represent value like a currency, while non-fungible tokens are unique digital assets.
SPL tokens specifically refer to fungible tokens on Solana. They adhere to the SPL standard, enabling seamless integration with various Solana-based applications and platforms, including Magic Eden. These tokens can represent anything from native blockchain assets to unique assets within a specific ecosystem.
Token swaps with Jupiter integration
Leveraging Jupiter, the key liquidity aggregator for Solana, Magic Eden offers users a seamless experience with the broadest array of tokens and optimal route discovery between any token pair.
Paying with SPL tokens
Within the user cart, the newly integrated "Pay with" field puts the user in control of their NFT purchase, allowing seamless switching between tokens. By default, the field aligns with the token the listing is in, typically SOL. However, recognizing the diverse preferences of our users, the flexibility extends to choosing any other SPL token from their wallet.
The buy flow is designed to deliver a streamlined, one-step transaction. It kicks off by automatically swapping the user's chosen SPL token for SOL through the power of Jupiter. This automated process not only simplifies the transaction but also requires just one user signature.
Listing with SPL tokens
Magic Eden's beta integration of SPL tokens, introducing users to an enhanced listing experience that will progressively expand over time. Initially focusing on specific collections, the platform is geared towards a dynamic and evolving integration.
This integration specifically allows users to list their NFTs with various SPL tokens, enriching the overall trading landscape. Stay tuned for the expanding SPL token listing integration.
Beta SPL token listing options
$USDC for Collector Crypt
$BONK for Bonkz