How To Easily Convert Wrapped SOL To SOL On Solana- Best Method
This post will offer you thorough and up-to-date advice on converting wrapped SOL to SOL on Solana. To convert wrapped SOL to SOL, we propose using the Phantom wallet on the Solana network since this is our honest advice. If you want this conversion to be successful and are currently holding any wrapped SOL in your phantom wallet, please complete the three procedures outlined below.
- Sign in to your Phantom wallet first, and then choose the wrapped SOL token from the asset list in your Phantom wallet ( Asset list means tickets you are holding).
- Second, choose an item from the drop-down menu that appears when you press the menu button.
- To finish, choose the “unwrap all” option with your mouse. Boom, the wrapped SOL you used has now been successfully transformed into SOL (Solana).
Solana (SOL) tokens Unwrapping Fees.
Because of the Solana blockchain, Solana has gained a reputation as a potential competitor to Ethereum. Unwrapping fees for Solana tokens are less than one cent. On the other hand, on the Ethereum network, if we need to unwrap ETH or vice versa, it may cost anywhere from ten to fifty dollars because of the hefty gas costs.
On Solana, What Exactly Are “Wrapped SOL Tokens”?
The native token for the Solana blockchain is called SOL and is used to power transactions on the network. The Solana development team developed wrapped SOL to encourage greater acceptance and usage of the Solana blockchain (WSL). An ERC20 token, WSL is backed 1:1 by SOL tokens stored in a safe multi-sig wallet. This implies a matching SOL token for every WSL token currently in circulation and that this token can be found on the Solana network.
It is now much more straightforward for users of the Ethereum network to access and use the Solana blockchain since WSL tokens may be used in any wallet compatible with Ethereum. In addition, WSL tokens may be exchanged for other cryptocurrencies on any Ethereum platform.
This post explained to you how to convert wrapped SOL to SOL. In the article provided above, we described how to convert wrapped SOL to SOL, what it is, and how much it costs to convert wrapped SOL to SOL. We hope that the approach that was given was to your satisfaction.