Create and launch your token or memecoin in Solana from scratch

You don't need to know anything at all, we will guide you through the whole process starting from choosing a wallet until your token is listed on an exchange and bought by investors.

Key tools to launch your token or memecoin in Solana

For every need in launching a token or memecoin in Solana, there is a Smithii tool to solve it. We walk you through the process and teach you how to use them, you don't need any coding knowledge.

Choose a wallet and plan your tokenomics

You need a wallet that consists of an address that will allow you to interact within the lockchain with digital assets, creating it is free and very simple and intuitive although you will have to choose which one to keep. Then, before moving forward with the creation of the token, you will have to think about its economics (tokenomics).

What are Tokenomics?

Tokenomics, a combination of "token" and "economics," refers to the economic model of the token. It encompasses factors such as creation, distribution, supply and demand, incentive mechanisms and burning programs.

Good tokenomics is crucial to the success of your project, provides a foundation for long-term scalability and helps bring investors closer.

By the way, the face you see in the tokenomics image is Jorge, our CEO & Founder. We are a fully doxxed team and we know that providing quality and transparency in the crypto ecosystem is an added value that makes thousands of people choose us every day.

What type of token should I create?

The Solana Program Library (SPL) is the repository with which online dapps interact to create tokens. This repository allows the creation of 2 types: standard SPL token and Tax Token 2022. Both are utility tokens, the difference is that the tax token allows extra functionalities such as retaining a fee for each transaction made with the token, although the most chosen is usually the standard SPL token. It should be noted that a memecoin is nothing more than a standard SPL token but with a different nature (it has no utility). Without further ado, let's look at your options:

1. Memecoins
   • These are SPL tokens created mainly with a humorous nature or for fun, very much tied to degen culture, but sometimes they can gain significant value and a community following. An example is $SHRIMP, a Solana memecoin created by the smithii team which we will refer to in depth in the next section.
2. Utility Tokens
   • These SPL tokens or token 2022 and provide users with access to a product or service within a specific lockchain ecosystem. At Solana, examples of utility tokens include those used for transaction fees, access to decentralized applications (dApps) or participation in governance.

Any of the options you choose will lead you to have your token or memecoin created and in your wallet. If you want to explore more about the differences between an SPL token and a 2022 tax token we leave you with this article.

Create Memecoin in Solana

Memecoins are cryptocurrencies inspired by memes and social trends, characterized by their community-driven nature and lack of intrinsic value. They gain popularity through social media and marketing.

There is a variant of memecoins called shitcoins, about which we have an article showing the creation process, which have the same idea but are coins that the community distrusts or does not see good performance.

Differences between memecoin and utility tokens

Memecoins are more volatile than utility tokens due to their dependence on community vibes.

In a portfolio, they are often considered high-risk speculative investments with the potential for rapid price fluctuations.

Memecoin Case Study $SHRIMP

We at Smithii launched our own memecoin called $SHRIMP (token address: 9QMwCyTTFDRvPZF14hFHUP7fdiewf1a3PQeP4bewYCLJV) in a live stream on Decod3rs YouTube channel.

The idea was to create the memecoin from scratch in streaming, showing how to create and launch a memecoin by carrying out each step with the smithii suite of tools, from creation and pre-sale to the launch of the Liquidity Pool.

The problem arose when Jorge, CEO of Smithii, accidentally used 0 of hardcap in the launchpad configuration and sent the presale anyway, leading to a fiasco at that moment. Of course, we are human and like most in the lockchain ecosystem we can make mistakes, without hiding but on the contrary we show how to fix them.

Thank heavens Smithii has a Backend team that solved everything live and subsequently we successfully launched memecoin, being of note that our support team is available to smithii tools users 24 hours a day, 7 days a week.

Special considerations for memecoins

Memecoins, generally (I would like to say always, but there are a few exceptions), are not tokens that are leveraged in long-term projects, but their creation is often linked to rugpull cases, so it is interesting to learn how to avoid memecoins rug pulls.

From that point of view, these are speculation assets and you should treat them as such. I mean, yes, memecoins can achieve incredible returns, but believe me most of the time they don't.

What you should know about your Solana token: Authorities

A Solana token possesses 3 authorities, or as it would be called in other lockchain properties. Freeze Authority, Mint Authority and Mutability Authority. You need to know what each authority is about and most importantly, is it necessary to revoke the authorities, which one, when, how, how? Don't worry, we explain it all below:

Revoking authorities in Solana

Revoking the authorities in Solana allows us to gain transparency and reliability from investors in our token. Below we explain which ones exist. All of them can be revoked with the Smithii Tools Suite.

Revoke Mint Authority

Revoking the mint authority of a Solana token ensures that no more tokens can be created after the initial release. This step guarantees the supply of the token.

Revoke Freeze Authority

Revoke Freeze Authority of a token is crucial to enable the creation of liquidity pools. This process ensures that the token creator cannot freeze transfers, increasing user confidence.

Revoke Mutability

This tool allows you to revoke permissions to make changes to the token's metadata, thus allowing users who are trading the token to increase its predictability. This is because you will not be able to make changes to the token's smart contract and change the rules of the game.

Considerations before creating the Liquidity Pool

Creating a Liquidity Pool in a decentralized exchange (DEX) is the goal, but there are some strategic actions to take into account to generate hype around your token. Here the creation of community is key, on platforms such as X (Twitter), Discord, Telegram; make your token known on social networks such as Youtube and perform promotional actions with ads, ambassadors on X, influencers on Youtube, articles on relevant websites with crypto content, in short, the options are not exhausted.

The ultimate idea is to generate interest in your token and buying pressure by launching it in the liquidity pool.

In the previous lines we told you about strategies outside the lockchain, but you also have some tools within the lockchain to promote your token. For this case, dApps like Snapshot Tool to know the list of holders, Token Multisender to make airdrops and Token Launchpad to make presales take relevance, we will see each one below.

Marketing for Solana tokens

To ensure the success of any token launched in Solana, it is necessary to think through and plan a robust marketing plan.

This is truly the best way to proceed, at this point you need to reach as many people as possible to increase the initial capital of your token. This way you will be able to get potential investors.

In the case of memecoins, the first thing that is usually done is to create the community and then make the pre-sale, but depending on the style of project you have, your situation may vary.

Know your Audience

Knowing your audience is essential. Investors in Solana tend to look for innovative, transparent projects with high return potential. It is crucial to clearly communicate the unique value of your project and its benefits to attract their interest.

Uses Key Platforms

There are 3 platforms that are the most widely used in the crypto world:

• Telegram: Perfect for real-time communication and building an active community. Create a Telegram channel to interact directly with investors, answer their questions and provide regular updates.
• Discord: Ideal for creating a dedicated community with different thematic channels. Organize AMA (Ask Me Anything) sessions and encourage detailed discussions about your project.
• Twitter: Useful to share quick updates and reach a wider audience or to share news to your niche.

Transparency and Trust Building

Transparency is fundamental in pre-sale marketing. Many projects indicate in advance to the community how they are going to distribute the supply of the token. This is what we call token allocation and it is exposed in tokenomics.

If you don't have a very detailed plan of what you are going to do with the presale money, at least make it clear to the public how much you are going to use to create the Liquidity Pool and how much for other activities.

Then you should keep investors informed with regular updates on the progress of the project. Transparency helps build trust and credibility in your project.

Collaboration with Influencers

Collaborating with recognized influencers in the Solana community can significantly increase the visibility and credibility of your project. Look for reputable and credible influencers in the Solana environment to promote your presale.

Airdrops and Rewards Programs

Implement airdrops and reward programs to incentivize participation and loyalty. The vast majority of tokens suffer a spike at launch that they never touch again because they do not have a community behind them.

Take advantage of the Launchpads

The end of your presale process should be a launchpad token. Launchpads are platforms that help launch new tokens by providing the necessary tools to manage presales and increase visibility. We will explain all about it below.

A Launchpad is a platform where you can create a sale of your token in solana. 

That is, an application that allows you to sell your tokens to any Solana user with a couple of clicks. You can use it for any type of sale: IDO, ICO, Presale, Private Sale and even use whitelist and public sale.

The Solana Launchpad is used both prior to launching the Liquidity Pool and after the token has been created, you can learn more about the best Solana launchpads here.

Getting back to dApps to promote your token in Solana

As we told you before, without discounting the actions related to the marketing of your project, these 3 online tools will allow you to use functionalities within the lockchain to promote your token or memecoin:

Why lock Solana Token?

At this point you will have created your token and will have a defined tokenomics. Part of the supply can be destined for marketing to the project development team, another part to the liquidity pool, and this is where the concept of lock Solana token becomes relevant. There are two more consolidated use cases, lock a standard token (SPL token) as a tokenomics strategy to maintain the health of the project in the long term or lock the liquidity (LP token) to avoid liquidity manipulation and give credibility to investors.

When you lock a token or liquidity with the tool I am going to show you, you are given a visible certificate on the blockchain to accredit the blockchain.

Let's look at each particular case:

Create Liquidity Pool in Solana

We will create a liquidity pool that will be hosted on a decentralized exchange such as Raydium, the most used in the Solana ecosystem. This involves 2 steps, the creation of an OpenBook Market and the creation of the Liquidity Pool itself. We will tell you about both cases but in the end we recommend you to choose smithii's tool to create liquidity pool as it performs the 2 steps in one.

What is an OpenBook Market in Solana

An OpenBook Market is a space on the Solana lockchain for which you must pay a fee to allow you to exchange pairs of tokens and create the market, this space must be allocated before we add liquidity, i.e. before we create the Liquidity Pool. Creating one can cost from 0.4 SOL to 2.8 SOL, depending on the size and trading capacity.

Smithii offers a tool that simplifies this process in 1 minute with no programming required. The tool ensures asset security and does not access private keys.

Managing a Liquidity Pool with Smithii

A liquidity pool is a set of funds created by the developers of a token to allow users to buy and sell that token at any time.

This liquidity pool is set up with a pair of tokens, combining the token in question with another token of set value (such as $USDC or $SOL). These token pairs are deposited on a DeFi platform, such as Raydium, to facilitate exchange.

In this way, any user can acquire tokens from this liquidity pool in exchange for another token of set value that he/she deposits in the pool. Likewise, any user can sell tokens by depositing them in the liquidity pool and receiving in exchange another token of set value.

Raydium has two types of protocol, V2 and V3. Raydium V3 introduces a new Constant Product Market Maker (CPMM) protocol, improving cost efficiency and simplicity, you will have to select which protocol to use but don't worry, at smithii you will not only find the necessary tools to make your liquidity pool in any of the protocols but also guides and comparisons to help you make the right decision for you.

Powers over your Solana liquidity pool: remove or add liquidity and burn token pair

Once the liquidity pool is listed in Raydium, you will be able to perform different actions on it because you will be the owner of the liquidity token (a token that symbolizes the pair between yours and the value token you have chosen). These actions range from burning the liquidity token to make the pool more secure by proving that it cannot be modified, or the opposite, removing the liquidity using that pair of tokens in your possession. By the way, you can also add more liquidity to an existing liquidity pool.

Snipers in Solana: What you need to know when creating a liquidity pool

One of the most relevant issues when launching a new liquidity pool are the sniper bots, if you don't take precautions they could exploit your liquidity (known as token exploit) and bring down the dreams of your ideal project. Here we share with you everything you need to know, recommending you to pay special attention to the feature of snipering your own liquidity pool with our dApp:

Promote my Solana Liquidity Pool

If you selected a launch date, on that day your token will be available for exchange and you will be able to see its performance.

On the other hand, if you did not define a launch date, your token is already available.

If you want to see the purchases and sales of your token in real time in DexScreener or BirdEye just go to your wallet in phantom, then click on "View token in Solscan" and copy the SPL Token address and paste it into either platform.

Now that you have launched, you will probably need strategies to carry forward the token and be able to earn more market cap. To do this you can do an airdrop, but to make it much easier, you should know how to use the Snapshot tool.

In this phase you will have to reinforce the marketing actions you have employed in the pre-launch stage, for example, continue doing airdrops. However, there are some additional actions such as listing your Liquidity Pool in Jupiter, a platform where thousands of users will be able to buy and sell your token. You will also be able to give your token an extra use (in addition to the ones you already have planned) such as staking.

Additionally, you can list your token on Coingecko and Coinmarketcap, two huge crypto platforms with a directory of all existing tokens.

You can now launch your token or memecoin in Solana

Congratulations on reaching the end of this guide! You are now equipped with everything you need to launch your token on Solana. You've learned about the importance of planning, how to create your token without technical complications, and the key strategies for a successful launch.

Throughout the tour you will have seen guides that involved the use of online tools for different needs, from creating the token to its liquidity pool, all of these dApps are in the smithii tools suite and we have developed them so that anyone without prior knowledge can participate in the lockchain ecosystem not only as a simple spectator or investor, but as a project owner.

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