What Is an SPL Token? Solana Token Standard Explained
SPL tokens are the foundation of the Solana ecosystem. If you want to launch a token, run a DAO, or build a DeFi protocol on Solana, you are working with SPL tokens. Here is everything you need to know.
SPL Stands for Solana Program Library
The Solana Program Library (SPL) is a collection of on-chain programs maintained by the Solana Labs team. The SPL Token program defines how fungible tokens are created, transferred, minted and burned on Solana. Every fungible token on Solana - including USDC, RAY, JUP and thousands of community tokens - is an SPL token.
How SPL Tokens Work
An SPL token consists of three key accounts:
SPL Token vs ERC-20
| SPL Token (Solana) | ERC-20 (Ethereum) | |
|---|---|---|
| Transaction speed | ~400ms | 12-15 seconds |
| Transaction cost | ~$0.00025 | $1-50+ |
| Token standard | SPL Token Program | ERC-20 Contract |
| Metadata | Metaplex on-chain | Off-chain (tokenlist) |
| Token-2022 extensions | Yes (transfer fees, etc.) | Via custom contracts |
SPL vs Token-2022
Token-2022 (also called Token Extensions) is the next generation of the SPL standard. It adds features like transfer fees, interest-bearing tokens, permanent delegate, non-transferable tokens and confidential transfers. Most new projects still use classic SPL for maximum wallet and DEX compatibility. But Token-2022 adoption is growing quickly.
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