Solana Co-Founder Introduces Tiny SPL: New Token Standard Revolutionizes Storage Rent Concept

On January 3, 2023, Solana co-founder Anatoly Yakovenko shared a tweet on his social media, which triggered widespread attention on a new token standard called "Tiny SPL". Tiny SPL claims to have launched an innovative token standard on Solana, using "state compression" technology so that users do not need to pay storage rent when holding tokens.Tiny SPL and “DN” tokenThe first token asset based on Tiny SPL is named "DN (Deez Nutz)" and can be minted for free initially. However, after DN was traded on the market, its floor price fell rapidly after breaking through 0.2 SOL and is currently at 0.00089 SOL. Although the market's interest in Tiny SPL does not seem to be high, Solana co-founder Anatoly still pinned the tweet about Tiny SPL to the top of his Twitter homepage to stay tuned for its technological innovation "status compression"."Rent" in the Solana account modelBefore introducing Tiny SPL, it is necessary to understand the concept of "rent" in the Solana account model. Unlike Ethereum, Solana charges accounts a fee for storing data state, which is rent. Rent is charged periodically based on the size of the token balance in the account. If the account cannot pay the rent, the system will delete the account to reduce storage costs.Tiny SPL’s state compression technologyTiny SPL aims to create a "smaller" version of the SPL token standard, where users can own tokens without paying rent through a state compression method. This state compression method is a new technology for storing data launched by Solana in April 2023. It is implemented through Merkle trees, which greatly reduces on-chain storage costs and is especially suitable for NFT casting.The state compression approach that attracted Helium Mobile to move to SolanaState compression technology was applied to NFT casting for the first time, successfully reducing the cost of casting NFT on Solana by thousands of times. For example, the Helium Mobile project successfully minted nearly 1 million NFTs when migrating to Solana, at a cost of only $113. This becomes a typical case of successful application of state compression methods.Anatoly’s attention and community responseAnatoly Yakovenko's Twitter retweets and pinned Tiny SPL-related tweets attracted widespread attention. As the co-founder of Solana, Anatoly’s actions often affect the community. The meme currency SILLY he previously promoted is one of the most watched projects on Solana.Overall, Tiny SPL has attracted market attention with its state compression technology. Although the current market interest is not high, the Solana community's attention to Anatoly makes Tiny SPL possible to have new developments in the future.