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Solana wants to implement taking control of your assets.

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by COINS NEWS 162 Views

There has been a raging debate about NFT royalties for some time now, creators are outraged about people are circumventing royalties from the sales of NFTs by trading P2P instead of using a marketplace.

Now this has gone so far as Solana implementing a way for NFT creators(and by extension any token) to take control of your assets 'when needed'.

Problem

NFT projects want to implement a Harberger Tax on the tokens, which requires the ability for an external authority to take over the tokens if needed. A few other projects have expressed the desire for something similar, so it's time to add it in finally.

Solution

Add the ability for mints to specify a "permanent delegate" during initialization, that can always transfer or burn tokens, similar to a normal delegate, but with an unlimited amount, and that can't be revoked.

Also, adds a warning during account initialization that the tokens can be seized, which will probably be useful for people hit by the Harberger Tax.

Github proposal: https://github.com/solana-labs/solana-program-library/pull/3725

submitted by /u/Rough_Data_6015
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