Make your own coin
Actually, if you are offering a coin based on an existing blockchain, the process is quite easy
Create a wallet
1 | $ solana-keygen new |
and send it some solana
Install spl-token
1 | $ cargo install spl-token |
Create the token
1 | $ spl-token create-token |
Create an account to hold your new token
1 | $ spl-token create-account YourTokenAddress |
Create money from Air and send it to the new account
1 | $ spl-token mint YourTokenAddress 1000000000 YourAccountAddress |
check your tokens
1 | $ spl-token accounts |
Send your token to others
Your user need to have a solana wallet, whatever it is. Then give you the public key.
1 | $ spl-token transfer --fund-recipient --allow-unfunded-recipient YourTokenAddress Number_you_want_to_send OthersPublicKey |
But how to make your token tradable ?
Here is what we called an ‘exchange’ comes into play
You need to list your coin on an exchange. There are two types of Exchanges : CEX and DEX
CEX (Centralized Exchanges)
Like OKX
and Binance
, users send their coins to the CEX, then trading happens there. Just like traditional exchanges.
DEX (Decentralized Exchanges)
DEX use something called Liquidity Pool and Automatical Market Maker(AMM). DEX is acutally some smart contract code manage two piles of pre-staking coins. The exchange happens directly between user and Liquidity Pool.
The easiest way to make it tradable
Go to Raydium, create a new Liquidity Pool, staking some tokens, then it is done.