How to check if program contract ownership was renounced?

Question

I am not able to find if program ownership was renounced in https://solscan.io/. Can someone please guide or share screenshot where to check it? For example I want to buy some new solana coin but not sure if ownership was renounced. I am able to verify in AVAX and ETH explorer, but I could not find for solana contracts. I am newbie in crypto.

Answer 1

The equivalent of the "renounced ownership" on Solana would be disabling the "mint authority."

Let's examine the USDC token as an example: USDC Token on Solana Explorer

In this case, the mint authority is not disabled, and the account 2wmVCSfPxGPjrnMMn7rchp4uaeoTqN39mXFC2zhPdri9, which happens to be a multisig account, has the ability to mint new USDC tokens.

Solscan and Solana Explorer do not display this field when it is disabled, but Solana.fm does. Now, let's take the BONK token as an example:

• BONK Token on Solana Explorer
• BONK Token on Solana.fm

Here, the mint authority is disabled, but only Solana.fm displays it.

Note that you could also check the mint authority using the spl-token-cli tool.

$ cargo install spl-token-cli
$ spl-token display DezXAZ8z7PnrnRJjz3wXBoRgixCa6xjnB7YaB1pPB263 -u  https://api.mainnet-beta.solana.com

SPL Token Mint
  Address: DezXAZ8z7PnrnRJjz3wXBoRgixCa6xjnB7YaB1pPB263
  Program: TokenkegQfeZyiNwAJbNbGKPFXCWuBvf9Ss623VQ5DA
  Supply: 9363724730337300546
  Decimals: 5
  Mint authority: (not set)
  Freeze authority: (not set)