CREATE A TOKEN 2022 LIQUIDITY POOL ON RAYDIUM
If you already have or are about to create a token 2022 on solana, creating a liquidity pool is usually the next step. There are several DEX where you can create one, although the most popular option is Raydium. Let’s go straight into the step-by-step tutorial on how to create a Token22 liquidity pool on Solana.
If you prefer the video version, this is for you:
Here we explain cómo crear un Token 2022 de Solana.
WHAT A TOKEN-2022 IS
Before creating a Token on Solana, you need to understand what “SPL Token-2022” means. SPL stands for “Solana Program Library”, so an SPL Tokens is a token that belongs to the Solana Blockchain and is created under its standards.
When we talk about SPL Token-2022, we are going a step beyond a standard token. These are called “token extensions”.
These extensions support different features, but the standout one is clearly the ability to add a transaction fee, commonly known as a “Tax Token”, in this case on Solana.
In short, Token-2022, also called Token22 or Tax Token, are terms we use to refer to a Token on Solana with a transaction fee.
TOKEN22 EXTENSIONS
When creating Liquidity Pool on Token 2022, we can highlight the following token22 extensions:
Transfer Fee
This extension lets us add a fee every time our token is transferred to another wallet (including sales).
Keep in mind that this fee is charged in our token, not in Solana, and it does not go directly to a wallet we set, the way it does on EVM. In this case, the tokens are held in a “Token Account”. You can easily withdraw those tokens with a tool I’ll show you later.
We can also set the “withdraw authority” and the token authority.
Permanent Delegate
The “Permanent Delegate” extension lets us delegate authority over our token to any other wallet permanently.
That wallet will have the authority to burn or transfer tokens as it sees fit.
Default Account State
This extension has a pretty specific use case: it lets us set the default state of the token account when it is created in a wallet.
That state can be: Uninitialized, Initialized, or Frozen.
The state we usually see for SPL Token is Initialized, and that is what you will get if you do not change this extension.
Interest Bearing Rate
The “Interest Bearing Rate” lets us set an interest rate on our token and withdraw that amount with interest whenever we want.
Non-Transferable
As the name of this extension suggests, if we apply it, our token cannot be transferred to other wallets.
Even so, they could still burn and close the token account.
2 WAYS TO CREATE YOUR TOKEN 22 LIQUIDITY POOL ON SOLANA
Creating a Tax Token liquidity pool on Solana usually takes two steps: first you create a OpenBook Market, then you create the liquidity pool. But with Smithii tools, you can do it in a single step. We’ll show you both options, but if you prefer, skip straight to creating a liquidity pool on Solana in one step.
CREATE A TOKEN22 LIQUIDITY POOL ON RAYDIUM IN 2 STEPS:
1. SET UP THE OPENBOOK MARKET
Once your token is ready, start directly from Smithii Tools in the “Create OpenBook Market” section: tools.smithii.io/openbook-market/solana, then connect your wallet.
In short, creating a market means setting up the token pair we will later use to create the liquidity pool.
You can find a detailed guide here to create the Openbook Market for Token-2022.
2. CREATE LIQUIDITY POOL TOKEN 2022 ON RAYDIUM
Once the market is created, we can move straight into creating the liquidity pool. It is important to remember that you can only create the liquidity pool for Tax Token if your token is “Freeze”, meaning no more tokens can be minted and its maximum supply is final.
To do it, you can go to this page, select your token and complete the process. The cost is only 0.1 SOL.
With that clear, go straight to the pool creation section in Raydium: raydium.io/liquidity/create/ and connect your wallet.
Once you’re there, paste the “OpenBook Market ID” you copied earlier and click confirm.
Now comes one of the key steps: setting the initial price of your token and adding liquidity to the pool.
For the starting price, just enter the amount you think makes sense. It is best to prepare full tokenomics so you can follow a clear strategy.
Next, enter the amount of liquidity for each token 2022 you plan to deposit. Make sure you have enough in your wallet.
To finish, select the launch date for the liquidity pool and click confirm.
After clicking the button, we’ll need to confirm 2 transactions. Once that’s done, we’ll see the ID for our liquidity pool Token 2022 (so we can find it easily), and the process will be complete. Your liquidity pool on Solana is now created.
This liquidity pool will stay active on the page we opened at the start of this second step.
CREATE A TAX TOKEN-2022 LIQUIDITY POOL ON RAYDIUM IN 1 STEP
As mentioned, with Smithii’s dApp “Create Liquidity Pool,” you can do it in a single step. Go to https://tools.smithii.io/liquidity-pool/solana and you’ll see this view:
This tool lets us create our liquidity pool on Raydium through a user-friendly interface and from just 1 SOL (up to 3.5 SOL, depending on the settings you choose).
- Go to Create Liquidity Pool ( https://tools.smithii.io/liquidity-pool/solana ) and connect your wallet to use the tool.
- Select the “Base Token” (the token you created that still has no market value).
- Select the “Quote Token ” (a token with market value, usually SOL or USDC).
- Set the “Min Order Size” (the minimum amount of tokens users can buy).
- Set the “Tick Size” (the smallest amount your token price can move by).*
- Set the advanced options: Event Queue Length, Request Queue Lenght, and Orderbook Lenght (only if you want to use a cheaper Market ID, starting at 0,4 SOL).**
- Set the amount of tokens and SOL/USDC you want to add.
- Set a launch date (optional).
- Click “Create Liquidity Pool” and approve the 3 transactions .
It will take a moment to finish, and then you’ll see the market ID and the liquidity pool address. Save them, since you may need those addresses later.
*Use this table as a reference for Min Order Size and Tick Size:
**Under “advanced options”, you can adjust the size of your OpenBook Market. Here are the inputs I recommend for 3 different sizes:
0.4 SOL:
- Event queue length: 128
- Request queue length: 63
- Orderbook size: 201
1.5 SOL:
- Event queue size: 1400
- Request queue size: 63
- Orderbook size: 450
2.8 SOL:
- Event queue size: 2978
- Request queue size: 63
- Orderbook Size: 909
If you want to list your Token en Jupiter Exchange aquí te explicamos cómo agregar un Token a Jupiter.
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