Squeezed State Projectors in String Field Theory

We find a new subalgebra of the star product in the matter sector. Its elements are squeezed states whose matrices commute with (K_1)^2. This subalgebra contains a large set of projectors. The states are represented by their eigenvalues and we find a mapping between the eigenvalues representation and other known representations. The sliver is naturally in this subalgebra. Surprisingly, all the generalized butterfly states are also in this subalgebra, enabling us to analyze their spectrum, and to show the orthogonality of different butterfly states. This means that multi D-brane states can be built of butterfly states.