Burn Solana's Liquidity Pool Token in 5 steps

If you want a successful launch of your token or meme coin on Solana, it is necessary to burn the Liquidity Pool to maximize your participation in the DeFI.

If you want to Burn a Solana Liquidity Pool, or the same burn the Liquidity Pool Token Pair, you must take into account the trust of the people. You have to gain the trust of investors. Making a meaningful project can prevent other users from thinking you're a scammer or a rug puller. Transparency and trust are key in this process.

If the Liquidity Pool is not burned, funds can be easily withdrawn at any time, a common characteristic of rug pulls.

How to Burn Solana Liquidity Pool Token in 5 steps?

Once the liquidity pool has been created, creators are given a pair of liquidity tokens or tokens. The liquidity allows other users to buy or sell it. At this point, creators can make three decisions: They can be burned, used, or locked.

Utilizing them would lead to the aforementioned, a practice known as a rug pull.

For now, we will proceed with burning. While there are cryptocurrencies like Ethereum where you send tokens to a dead address and they disappear, this does not happen on Solana. The concept of a «dead address» or «burn address» does not exist.

Thus, If we operate using SOL, We need to employ a tool to burn it, such as the as Sol Incinerator. It will allow us to perform the burning of any token such as the liquidity token. It is simple. You don't need to have great knowledge in coding. Just follow this explanation as it is:

• To get started you have to access the official website of Sol Incinerator.
• Connect the Solana wallet that has the token to be burned.

1. Then you have to activate the Lite->Pro button (bottom left corner). Without Pro Mode you cannot Burn your Liquidity Pool Solana.
2. When connecting, a new screen opens and we have to click on the LP column (fifth option).
3. Select the Raydium button.
4. Choose the Liquidity Pool Solana token.
5. And click on "Confirm Burns".

Benefits of Burning the Liquidity Pool Solana

If you want to wage war on inflation, you must burn your Solana Liquidity Pool Token. It will serve to maintain/increase the value and increase confidence in addition to other benefits such as the following:

• Reduce the total supply of token in circulation.
• Increase the token value, efficiency, and demand.
• Increase confidence in the long term.
• Improve governance and decision making.
• Attract more investors.
• Deflationary effect.

In order to achieve the latter benefit, the tokens must be effectively destroyed.

Lock Liquidity Pool Tokens Solana

Locking the Solana Liquidity Pool is an alternative to burning the liquidity, the tokens cannot be used but will still exist.

Lock Solana Liquidity Token

To lock liquidity on Solana we will also use the online Solana Token Vesting tool (https://tools.smithii.io/token-vesting/Solana). As we said before, blocking SPL token liquidity is mandatory for the credibility of your project:

1. Connect your wallet.
2. Select the LP token you want to lock.
3. Select lockout time (start date and end date)
4. Enter the number of tokens to be locked (all tokens are recommended).
5. Enter the vesting URL (if using “smithii”, the vesting URL will look like this: https://tools.smithii.io/token-vesting-panel/smithii)
6. Configure "Add vesting periods" (optional)
7. Set "receiver wallets" (optional)
8. Add certificate information (social links and tokenomics, optional)
9. Click on the "Create Vesting" button.
10. Confirm transaction for 0.1 SOL + fees

After completing these steps, your Solana liquidity tokens will be locked until the completion date, which will be visible on blockchain. In a few seconds, the process will be finished and you will see the award certificate that you can share with your community, this will make investors trust you and your project.

If you don't know yet our tool to create a Liquidity Pool on Solana click here.

Conclusions on locking or Burning the Liquidity Pool on Solana

Burning or locking the Liquidity of your LP is an action that will demonstrate the transparency of your token and make it more attractive to investors, although burning liquidity tokens is the best option in this regard. Currently it is difficult for web3 users to buy a token or meme coin whose liquidity is not burned.

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