I am trying to figure out what this SPL token is all about. Can you enlighten me?
The simple answer is that SPL Tokens are similar on how ERC20 tokens are implemented on the ETH network.
At first, other wallets that support Solana and SPL Tokens generate different addresses for every SPL Token. This caused a bit of a confusion and inconsistency.
We worked closely with the Solana team and implemented a new standard that will soon be followed by other wallets. Here is a tweet from Dan who is part of the Solana team:
This is what Trust Wallet currently uses and is explained further on this article:
Thank you @zachzwei I have successful understood and created my account. Thank you.
Wouldn’t it make sense for TW to automatically use the Solana Account holder to initialize the token account as soon as you add the token on TW? because there is no guarantee that the sending wallet will do that?!
and whose SOL would it then use?
Right now when you add an SPL token on TW basically nothing happens in terms of token account on that Solana Address
Could someone explain user case where one user has Trust Wallet with USDC-erc20 and want to send USDC(using Solana) to another user USDC-spl.
thats a crosschain swap … as to the technical term.
or also called Atomic Swaps
Ok I understand that crosschain swap has to happen. But from user perspective how can you make it happen.
[user1] USDC-erc20 (20$) —> send (with crosschain swap) —> [user2] USDC-spl(20$ - fee)
Is it possible to send with two Trust Wallets? How?
Crosschain swapping ERC20 to SPL tokens using the Trust Wallet app is not possible. You have to use an exchange to do it.
Thank you. Do you know if there is a plan that Trust Wallet would use Solana’s Wormhole as a bridge?
Sorry, the plans are not disclosed. An official announcement will be done if there’s one.