Trezor Expands Token Support
Trezor, a leading manufacturer of web3 hardware wallets, has recently expanded its support to include two new tokens: Solana (SOL) and Solana Program Library (SPL) tokens.
Compatible Wallet Models
The company has announced that both the Trezor Model T and Safe 3 hardware wallets now support SOL and SPL tokens. The Trezor Safe 3, priced at $79, features a special chip for enhanced security, while the Model T offers a touchscreen interface and retails for $179.
Both devices support over 8,000 coins and tokens, enabling users to securely send, receive, and trade their digital assets.
Understanding SOL and SPL Tokens
SOL: The native token of the Solana blockchain, SOL is known for its high-performance features, including fast transaction speeds and low fees.
SPL: This token standard on Solana is comparable to Ethereum’s ERC-20 token standard.
Opportune Timing
Trezor’s support for SOL and SPL tokens comes at an opportune time as Solana has experienced a resurgence in interest. Both trading activity and search engine searches for Solana have surged significantly, with SOL rallying by an impressive 266.8% since early October, when it traded around $22.
Security Considerations
This decision by Trezor to add support for SOL and SPL tokens coincides with a recent exploit on Ledger, another popular hardware wallet. The exploit targeted Ledger’s Connect Kit, compromising many popular decentralized apps and resulting in the loss of over $600,000.
