Iretomi Ebiwanno

I almost quit public speaking to work at theschool refuse dump because I had a torn school uniform and the principal asked me to call home, Home that time was financially ⬇️⬇️⬇️

Most people don't know what rent on Solana is or what it does. All they see is a tiny amount of SOL locked in their wallet when they interact with the chain. But it's actually one of the smartest design decisions on the network once you understand it. Here's what actually happens: Every time you hold a token or interact with anything on Solana, the network creates a small file to remember it. Your balance, your token data, or anything it needs to track, must be kept open and ready by thousands of computers around the world. These computers need to actively run and keep the file accessible in the background at all times. That costs real money, hardware, electricity, and uptime. Someone has to pay for it, and that someone is you, through rent. Rent is just a small SOL deposit tied to the size of that file. But the important part is that it's fully refundable. Close an account you're done with, and every single lamport comes back to you. It's not a fee, it is just a deposit sitting in your name. If you deposit enough SOL to cover two years of storage costs upfront, your account is exempt forever. No annual bills, no recurring charges. Just locked and alive. Two years is the threshold because storage gets cheaper roughly every two years as technology improves. Pay two years' worth, and you've basically covered the lifetime cost. That's why you see roughly 0.002 SOL locked per token account. Your wallet automatically calculates it the moment the account is created. Beyond your wallet, rent also does three important things for the network: → It stops spam Without a cost attached to creating accounts, anyone could flood Solana with millions of useless files for free. Rent means you have to put something on the line. → It pays validators. The people running the computers that keep Solana alive get a cut of the rent collected. It's part of how the network sustains itself. → It keeps things clean. Accounts that go inactive and fall below the minimum balance eventually get cleared out. Dead weight gets removed, the network stays fast, and that speed you love about Solana stays intact. Solana rent isn't the network taking from you. It's the network making sure it can keep running for everyone. So the next time you visit a rent reclaim site and claim some SOL, know that it isn't free money. It is just a refund.

If you know what happened in 2020 which made them millions, like this post