StakePoint

Solana DeFi Glossary

Definitions of key terms used in Solana DeFi, token locking, LP locking, and staking. Published by the StakePoint team.

Glossary/Close Mint Authority

Close Mint Authority

The authority with permission to close a Token-2022 token mint account on Solana.

Definition

Close Mint Authority is a permission in the Token-2022 standard that allows a designated authority to permanently close a token mint account, destroying it and recovering the SOL rent. Closing a mint permanently disables all token operations for that mint.

Unlike revoking mint authority (which prevents new tokens from being created but leaves the mint account open), closing the mint is a more drastic action that terminates the token entirely. It is irreversible.

The Close Mint Authority extension must be set at token creation and specifies which account has the ability to close the mint. If not set, the mint cannot be closed.

StakePoint & Close Mint Authority

Investors evaluating tokens to lock on StakePoint should be aware of the Close Mint Authority status. A token with an active close mint authority could theoretically be destroyed by the authority, though this would also destroy all token balances.

Frequently Asked Questions

What is Close Mint Authority in Token-2022?

It is a permission that allows a designated authority to permanently close and destroy a token mint account, ending all operations for that token.