Smithii Sniper Bot for Solana Tokens and Meme Coins

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CREATE LIQUIDITY POOL on Solana IN 1 SINGLE STEP

To make sense of a token on Solana you must add liquidity to it, i.e. pair it with an existing token that has a more stable value, typically $SOL or $USDC, this is called creating a Liquidity Pool on Solana.

When launching a token (creating it and adding liquidity to it), the Liquidity Pool must be available on a decentralized exchange (DEX), with Raydium being the most convenient and chosen option in the Solana ecosystem.

All action within the Solana blockchain is done following the parameters of Solana Program library (SPL) and Raydium offers the creation of Liquidity Pool in 2 steps, first the creation of an Open Book Market and then the Liquidity Pool itself (adding liquidity), but I want to show you the solution to do it in 1 step with the Smithii Tool dApp .

If you prefer the video version this is for you:

Here we explain how to create a Solana token.

2 WAYS TO CREATE YOUR LIQUIDITY POOL on Solana

All action within the Solana blockchain is done following the parameters of Solana Program library (SPL) and Raydium offers the creation of Liquidity Pool in 2 steps, first the creation of an Open Book Market and then the Liquidity Pool itself (adding liquidity), but I want to show you the solution to do it in 1 step with the Smithii Tool dApp .

Let's start with the most chosen way, the use of Smithii's Liquidity Pool Creator and at the end we review the alternative of doing it in 2 steps, as it was done in the old days.

CREATE LIQUIDITY POOL on Solana IN 1 STEP

As we told you, with Smithii's dApp "Create Liquidity Pool" you can do it in 1 step. Go to https://tools.smithii.io/liquidity-pool/solana and you will find the following view:

create solana liquidity pool

This tool allows us to create our liquidity fund in Raydium with a friendly user interface and from only 1 SOL (up to 3.5 SOL depending on the configuration you use).

You can choose to create the liquidity pool under raydium v2 or v3 protocol, if you want to know the differences we tell you about it in our comparison, but now we will continue with v2.

  1. Go to Create liquidity pool ( https://tools.smithii.io/liquidity-pool/solana ) and connect your wallet to use the tool.
  2. Select the "Base Token" (the token you created and has no market value yet).
  3. Select the "Quote Token " (a token with a market value, usually SOL or USDC).
  4. Set the "Min Order Size" (Minimumamount of tokens that users will be able to purchase).
  5. Set the "Tick Size" (Minimum amount that can change the price of your token)*.
  6. Set advanced options: Event Queue Length, Request Queue Lenght and Orderbook Lenght (only if you want to use a cheap Market ID, from 0.4 SOL)**.
  7. Set the number of tokens and SOL/USDC you want to add.
  8. Set launch date (optional)
  9. Snipe your Own token (optional)
  10. Click on "Create Liquidity Pool" and accept the 3 transactions.

It will take a while to complete and then you will see the market ID and the address of the liquidity pool. Save them, as you may need the addresses for future use.

Sniper your Token is a highlight of Smithii's Liquidity Pool creation tool, you will have a better chance of preventing your token from being exploited by third-party sniper bots.

*You can use this chart as a reference for Min Order Size and Tick Size:

MIN-ORDER-SIZE-TICK-SIZE-GUIDE-SMITHII

**In "advanced options" we can modify the size of our OpenBook Market, I leave you the inputs that you should use for 3 different sizes that I can recommend you:

0.4 SOL:

  • Event Queue Length: 128
  • Request Queue Length: 63
  • Orderbook Length: 201

1.5 SOL:

  • Event Queue Length: 1400
  • Request Queue Length: 63
  • Orderbook Length: 450

2.8 SOL:

  • Event Queue Length: 2978
  • Request Queue Length: 63
  • Orderbook Length: 909

CREATE LIQUIDITY POOL on Solana IN 2 STEPS:

CREATE OPENBOOK MARKET

As mentioned above, the OpenBook Market used to be created separately, for which Smithii also has an online tool for its creation.

Once you have your token ready, we start our process directly from the Smithii Tools in the "Create OpenBook Market" section: tools.smithii.io/openbook-market/solana and connect our wallet.

CREATE OPENBOOK MARKET - SMITHII

Basically, creating a market means that we will create the pair of tokens with which we can later create the liquidity pool.

To create an "optimal" OpenBook Market we will have a cost of 2.8 SOL, but we can also modify the size of this Market ID to make it cheaper, starting at 0.4 SOL.

In summary, the main problem that can generate a cheap Marker ID would be that our token has many transactions and that a percentage of them give error because they are not processable by our marketplace.

Although under experiences shared with Smithii, to create memecoins that do not reach more than 500k MarketCap there is no problem.

Take it into account and decide what you prefer, but to create a serious project I recommend you not to skimp on expenses.

To start we must select the tokens that will form the pair. In "Base Token" we will select the token that we have created and has no value in the market yet.

We continue selecting the "Quote Token", that is, the token with value, I recommend you to use SOL or USDC.

Once this is done, we must indicate the minimum purchase and sale amount for the users of our liquidity pool. The most common is to set 100.

We continue with the minimum price modification, that is, the minimum price that will vary the price of our token. The most recommended according to Raydium is to set 0.000001 if we have previously set 100.

These numbers are for reference, taking as the average a token with 100M supply. You can follow any of the data in the following table for your OpenBook Market.

MIN-ORDER-SIZE-TICK-SIZE-GUIDE-SMITHII

Before finishing we can activate "advanced options" to modify the size of our OpenBook Market, I leave you the inputs that you should use for 3 different sizes that I can recommend, always taking into account the potential errors that can generate.

0.4 SOL:

  • Event Queue Length: 128
  • Request Queue Length: 63
  • Orderbook Length: 201

1.5 SOL:

  • Event Queue Length: 1400
  • Request Queue Length: 63
  • Orderbook Length: 450

2.8 SOL:

  • Event Queue Length: 2978
  • Request Queue Length: 63
  • Orderbook Length: 909

To finish, we will click on "Create Market" and confirm the transaction, which will be between 2.5 and 5 SOL. Once this is done, we will obtain the "OpenBook Market ID" that we will copy to go to the next step.

2. CREATE LIQUIDITY POOL SOLANA ALREADY HAVING OPENBOOK MARKET

Once the market is created in Raydium, we can proceed directly with creating the liquidity pool. It is important to note that you can only create the liquidity pool if your token is "Freeze", that is, it has limited the creation of more tokens, so its maximum supply is definitive.

To do so you can go to this dApp to revoke freeze Solana token, select your token and complete the process. The cost is only 0.1 SOL.

REVOKE FREEZE AUTHORITY - SMITHII

Having this clear we have to create the liquidity pool, you can do it with smithii's Create Liquidity Pool tool by selecting the option "I already have an OpenBook Market" but we will still explore how to Create Liquidity Pool in Raydium.

CREATE LIQUIDITY POOL IN RAYDIUM

Once we have our OpenBook Market ID, it's time to go directly to the Raydium pool creation section: raydium.io/liquidity/create/ and connect our wallet.

Here we paste the "OpenBook Market ID" that we have previously copied and click on confirm.

We continue with one of the key sections: setting the initialprice of our token and addingliquidity to the pool.

Regarding the starting price simply indicate the one you consider optimal, it is recommended to prepare a complete tokenomics to follow a strategy.

Continue indicating the amount of liquidity of each token you are going to deposit, remember to have enough in your wallet.

Finally, select the date of publication of the liquidity pool and click on confirm.

CREATE LIQUIDITY POOL SOLANA - SMITHII

After clicking on the button we will have to confirm 2 transactions, then we will see the IDofourliquiditypool (so we can easily search for it) and we will have finished the process. Now our Solana liquidity pool is created.

This liquidity pool will remain active on the page we entered at the beginning of this second step.

If you prefer to watch a video about creating Liquidity Pool in Raydium here it is:

If you want to list your token in Jupiter Exchange here is how to add a token to Jupiter.

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