⚙️Setup Token Account

1. Setup Confidential - Token Account

What it does: Configures your token account to support confidential transfers by enabling the necessary Token-2022 extensions. This is a requirement to utilize the confidential side of tokens.

Transaction details:

• Modifies your existing token account or creates a new one if one does not exist

• Enables confidential transfer extension

• Sets up encryption/decryption capabilities

• Configures your account to receive confidential transfers

Why it's necessary: Standard token accounts cannot handle confidential transfers. This one-time setup enables the cryptographic features required for privacy.

What you're signing: A transaction that calls the ConfigureAccount instruction on the Token-2022 program to enable confidential transfers for your token account.