How to Create Solana Token: A Guide for Project Creators

In this post I will show you step by step how to create a Solana token for your project, this way you will be able to tokenize, control the supply and make airdrops later.

What we are going to learn in this guide is how to deploy a Solana SPL token, the normal Solana standard. There is another protocol that accepts extensions called token 2022, but at the moment it is not the most used.

The truth is that nowadays you don't need to know how to program, you can do it by pressing two buttons that allow you to deploy your smart contract with the data you enter smart

I'm going to explain how to create the token and have it end up in your wallet. Then I will give you my recommendations to launch your Solana project and, finally, we will talk about the legal aspects that are very important.

What is a Solana token

A token in Solana constitutes a fungible and exchangeable asset under the SPL protocol that is intended to serve both as:

• Utility token: Many platforms and dapp need internal tokens to function.
• Governance tokens: These are tokens that represent an ecosystem; their value often reflects people's feelings about the ecosystem.
• Meme coin: Which are assets backed by speculation and community sentiment.

Each of these paths involves different plans. In the case of meme coins, it would be necessary to increase trust as much as possible for the community. This implies creating a roadmap, tokenomics, whitepapers, everything necessary to gain transparency and seriousness.

In the case of utility tokens, the supply and number of decimal places must be adapted to the purposes of the dApps using them.

How to create a token in Solana: step by step

This is very simple but important on your way. First, open the Solana Token Creator tool, an online program that allows you to create a custom Solana token. There you will see an interface like the following:

If you want to integrate a Solana token with other services such as your own dApp or business, ask about our development services for Solana to provide you with personalized attention tailored to your needs.

Important considerations when launching a token on Solana

Earlier we told you that you had to fill in the required fields to give your Solana token an identity. If you don't know what we meant, we'll make it easier for you below.

Most important of all to launch a token

Undoubtedly, the most important thing of all is the community. If you make, for example, a meme coin with a very good meme idea and a very strong community, this will achieve all your goals.

Same with utility tokens, they gain value with adoption, and this is only possible with a strong community. The community will organically do the work for you every time, and often no one says that. There is no better airdrop than a community sharing memes on social networks.

To win over the community, in addition to providing them with something useful (such as a meme or a good utility token), you must provide them with as much transparency as possible. Today in the blockchain there is a shortage of transparent and reliable projects. If you launch a legitimate project, use all means to let your community know about it.

You cannot sell the token yet

After creating a token, you will have the supply directly in your wallet, but this does not strictly imply the possibility to sell it.

To sell a token you must create a pair or market through a liquidity pool, where you will occupy a place in the Solana smart contract with your market and people will be able to see the token in DexScreener (or any other screener) and trade it.

List in different Dex

Listing in DexScreener is done automatically when you create the liquidity pool with smithii. After that your goal should be to list on larger dex such as coinmarketcap and coingecko, which will give you much more visibility.

In order to reach them, it will be better if you have already achieved a certain market cap in the market.

Token parameters

I will now explain the main parameters for a token:

Name and symbol

They form the most visible face of the Solana token. The name will appear on exchange platforms (DEXes or analysis sites such as Dexscreener). The symbol is the abbreviated form you want to refer to the token. You can use any name as long as it does not exceed the character limits.

2. Decimals

Creating a token in Solana also allows you to choose the number of decimal places with which your token can be changed. The most common is 6 decimal places, so you can leave this value unchanged.

3. Supply

The supply is the amount of tokens that will exist at the beginning. In this case, we suggest you to put a number between 1 and 10 B (nine zeros) to reserve an amount that will go to create a liquidity pool, make airdrops, stacking rewards and many other purposes.

Smithii has all the tools you need to create an SPL Token and everything that comes after. Check out our toolkit and blog to learn more.

4. Description

In the description you will state the purpose of the token, so it should be a clear and simple message that will motivate others to buy.

5. Image

To give more personality to your Solana coin, add an image that represents it.

After creating your own token in Solana, it remains to make it tradable. This is achieved by creating a liquidity pool in Solana.

Taxes with an SPL Token 2022

Unlike the conventional SPL Token, the SPL Token 2022 allows you to add a percentage fee to receive a fee on each transaction. It is especially useful for funding the project, rewarding holders or adding liquidity. If you are interested, we recommend our guide to create an SPL 2022 token.

It is more convenient to create it this way or to launch it in pumpfun

If your token is a utility token or is integrated in a dApp, you will want to launch it this way. You will have control of the supply, which means that you will be able to mint if the project needs it or lock the liquidity.

If you are running with less capital, want to make a faster launch and are in the meme coin business, pump.fun is probably your choice in that case.

How many tokens achieve success in Solana?

Great, you've learned how to create a token on Solana, but how long does it take to consider yourself “a success” in the ecosystem? The reality is more complicated, as, according to CoinGecko data, meme coins on Solana have a market cap of $81,556,664,576 US dollars, and the top 10 alone account for $64,176,137,142 US dollars. In other words, almost 79% of the total market capitalization is held by the top 10 (not to mention the top 100).

If we go to Solscan Analytics, we can see that an average of 40,000 SPL tokens are created per day. So, if 70% of the market cap is focused on the first 10 tokens, what fate do you think those 40,000 tokens created daily will have?

In Smithii you can create SPL tokens without programming, but the success of your token depends entirely on your project.

FAQ about creating tokens in Solana

At Smithii we make it easy for you to create a Solana token in just a few steps, without having to be an expert or know how to program. We are also aware of the frequently asked questions in the Solana ecosystem, which we will answer below.

How much does it cost to create a token in Solana with Smithii?

The base price is 0.3 SOL + gas fee, but you can add additional features such as Revoke, which would result in an increase of the cost to 0.6 SOL (although this is the most recommended way).

Is it safe to use Solana Token Creator?

Yes, Smithii guarantees the security of your wallet, does not retain assets and does not share information related to the use of the tools. In addition, we have a support team that will attend to your concerns and possible problems 24/7.

Smithii's team is doxxed and is a dApp operating since 2023

How can bots drain your liquidity?

sniper bots are automated programs that constantly search for new liquidity pool to make an instant purchase. In theory, they buy first, other users (or more snipers) also buy, which increases the price of the token and the first sniper sells all the coins. To avoid this, we recommend using the function to snipe your own token in Solana.

Can anyone take all the tokens with little liquidity?

This user's question on Reddit is genuine: if liquidity is $1,000 and someone buys $1,000 worth of tokens, do they get all the tokens? The answer is no. Mainly because of how AMMs (Automated Market Makers) work, the automated protocol used by DEXes to define prices and conduct transactions. In this hypothetical case, the price of the token is automatically adjusted at the time of purchase, which generates an exponential growth of the price and the buyer would take a small amount of tokens, but not all of them.

In this way, $1,000 more would be added to the liquidity, but the user would keep an amount of tokens that will depend on the bonding curve. If you want to know more, we recommend you to read our article AMM vs CLMM that compares the two protocols currently in force.

How do I make my Solana token immutable?

An Immutable Token (which is represented as "Revoke Update" in the Solana Token Creator) will not be able to change its metadata in the future. To make your token immutable, simply click on "Revoke Update" or use the Make Token Immutable tool.

Is it possible to create a token in Solana without gas fee?

No, you cannot create tokens without spending gas fee, which is usually 0.002 SOL. Smithii counts the gas fee in the Total Cost, adding 0.3 SOL for using our platform to create a token in Solana.

You can also create a token in Solana for free, but for that you have to resort to commands and have technical programming knowledge. But, in this case, you would not be able to take advantage of the features we only have in Smithii and you would still have to pay gas fee.

Conclusion

Now that you know how to create a token in Solana and that you can customize it as you want without knowing how to program, all you have to do is click on "Create Token". If you want to go deeper into the ecosystem, don't hesitate to join our newsletter to stay up to date with all the Pro Tips to manage your project at all times.

Article sources

At Smithii, our editors use primary sources to support all published content. This includes white papers, data from blockchain explorers, proprietary reports and interviews with developers and experts in the crypto ecosystem. We also reference original research from other reputable publications when relevant.

You can learn more about the editorial standards we follow to ensure accurate, transparent and unbiased content in our editorial policy.

• Solana. Solana Tokens. solanacom/docs/tokens