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How to verify a Solana token burn yourself (and how fee burns work on Craic Hub Exchange)

#solana #web3 #tutorial #blockchain

Disclosure: I'm the developer of Craic Hub Exchange and Craic Coin ($CRAIC). This is a how-to, not financial advice (NFA). Meme tokens are extremely high risk.

"Tokens are burned" is one of the most repeated claims in crypto, and one of the least checked. This post shows how to check a burn on Solana yourself in a couple of minutes, then explains exactly how fee burns are set up on our own exchange, Craic Hub Exchange, so you can hold us to it.

Part 1: What a "burn" actually is on Solana

On Solana, fungible tokens are SPL tokens. Each token has one mint account, which records the token's total supply. There are two very different things people call a "burn":

  1. A real burn. The holder signs an SPL Token Burn (or BurnChecked) instruction. The tokens are destroyed and the mint's supply goes down. This is irreversible.
  2. Sending to a "dead" or "burn" wallet. The tokens are moved to an address nobody is supposed to control. The mint's supply does not change. Whether those tokens are really gone depends on who holds that address.

Both can be honest, but they are not the same thing, and you should know which one a project means.

Part 2: Check it yourself in 3 steps

You don't need any code. You need the token's contract address (CA), which is the mint address.

  1. Open the mint on an explorer. Paste the CA into Solscan or Solana Explorer. The token page shows Supply (current) and often the original or max supply.
  2. Compare supply over time. If a project says X tokens were burned, original supply minus current supply should be at least X. If supply hasn't moved, nothing was burned with a real Burn instruction.
  3. Read the transaction. Open the burn transaction and look at the instructions. A real burn shows Token Program: Burn or BurnChecked, with the amount and the authority (the wallet that signed). A transfer to a burn wallet shows Transfer/TransferChecked instead; in that case, look up the receiving wallet and check what it does with the tokens.

If you prefer the CLI, the Solana CLI's spl-token supply <MINT_ADDRESS> prints the current supply.

Bonus: check locks the same way

"Dev tokens are locked" is the other big claim. A lock on a vesting platform like Streamflow is its own on-chain contract with a public page showing the amount, the unlock date and whether it can be cancelled or changed. If a project can't link you to that contract, treat the lock as unproven.

Part 3: How fee burns are set up on Craic Hub Exchange

Craic Hub Exchange is a non-custodial exchange on Solana. You connect your own wallet (Phantom, Solflare or Backpack) and sign every transaction yourself; the site never holds your coins or keys. Swaps route through Jupiter.

$CRAIC is the exchange's native coin. The plain-English version of the burn plan, as it stands today:

Buy $CRAIC through the Craic Hub Exchange: fees paid in $CRAIC go to the burn wallet; we aim to start burning at 50 holders, goal 250M burned.

A few honest notes on that:

  • It's an aim, not a promise. 250M is a target. It isn't tied to any price outcome, and you shouldn't read it as one.
  • You can track it. The burn tracker works out the total burned live from on-chain supply (original 1,000,000,000 minus current supply) and links to Solscan, so you can run the exact checks from Part 2 against it.
  • Dev lock, so you can check it. About 155M $CRAIC dev tokens are locked on Streamflow until 31 October 2027, and the contract can't be changed. Here's the public contract: Streamflow lock.
  • CA: GXNXwLeoeupXEvufsXDQoEfk1immBtaE4kVFC4tBpump. Always check the CA, not the ticker. Anyone can create a token with the same name.

Part 4: Swapping safely on Solana (any DEX, including ours)

  1. Open the swap page (exchange.craiccoin.com/swap for ours) and connect your wallet.
  2. Search by contract address, not by name, to avoid copycat tokens.
  3. Read the quote: route, minimum received, slippage and fees. Our swaps show network and Jupiter fees plus a small platform fee (0% to 0.75%, lower for $CRAIC holders; the fees table is on the site).
  4. Check what your wallet asks you to sign. A swap should be a swap, not an "approve all" or a transfer to an unknown address.
  5. Afterwards, open the transaction on Solscan and confirm what you got.

Wrap-up

Don't trust burn or lock claims, ours included. Check the mint supply, read the instruction type, and open the lock contract. If you want to see how it works on a live exchange, the tracker and the lock are linked above.

DYOR, NFA. Get $CRAIC

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