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+--- Thread: Making a coin/token (/showthread.php?tid=6274534)
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Making a coin/token - just - Jul 1, 2024
I don't know if this is the right place to post a thread, so I apologize in advance. I'm thinking of creating a cryptocurrency (either a coin or a token) as a hobby project. I have knowledge with python, c/c++ and some networking, but I wanted to ask where should I start and what are some things to take into consideration when making one? I don't have sufficient knowledge to create a functioning blockchain, so a coin might not be the call, but nevertheless I am eager to learn and to create.
The question basically is; what is the framework to get started with a token - how can I get started with a token, what do I need to do/create? I know I have to market etc ofc, but rather what are some specific technical requirements?
Sorry for the non-cohesive text, I am not a native speaker. I hope to spark a discussion, and would love to get insights/help from you guys! Thanks in advance!
RE: Making a coin/token - UltraexTrader - Jul 1, 2024
It really depends on the network you plan to create it on - SOL/ERC-20 or BSC (Fees are different too)
RE: Making a coin/token - just - Jul 1, 2024
(Jul 1, 2024 10:12 AM)GMPr0x Wrote: It really depends on the network you plan to create it on - SOL/ERC-20 or BSC (Fees are different too)
Was thinking on ERC-20 because documentation is better (I assume), and also there is more help available. Although gas fees are high, and Solidity is hard. I'm quite novice with these, so I was thinking is there a way to create a token with the programming languages mentioned above (python, c/c++) or do I need to make a blockchain then?
Thanks for the reply!
(Jul 1, 2024 10:37 AM)just Wrote: Was thinking on ERC-20 because documentation is better (I assume), and also there is more help available. Although gas fees are high, and Solidity is hard. I'm quite novice with these, so I was thinking is there a way to create a token with the programming languages mentioned above (python, c/c++) or do I need to make a blockchain then?
Thanks for the reply!
Also, now comes to mind creating a token on top of Algorand blockchain. How hard would this be in computing hours wise? I'm not looking to create a perfect token, just one that functions for my own curiosity.
RE: Making a coin/token - UltraexTrader - Jul 1, 2024
(Jul 1, 2024 10:37 AM)just Wrote: Was thinking on ERC-20 because documentation is better (I assume), and also there is more help available. Although gas fees are high, and Solidity is hard. I'm quite novice with these, so I was thinking is there a way to create a token with the programming languages mentioned above (python, c/c++) or do I need to make a blockchain then?
Thanks for the reply!
Also, now comes to mind creating a token on top of Algorand blockchain. How hard would this be in computing hours wise? I'm not looking to create a perfect token, just one that functions for my own curiosity.
If I'm not mistaken you need like 2-3k$ in order to create a token on the Erc-20 network.
RE: Making a coin/token - Key - Jul 1, 2024
If you are planning to make a good token with a future plan, then you need a budget.
If you are looking out to test or anything for fun, use pumpfun it costs around 5$ I believe to create a token, it takes instant with pumpfun.
Good luck on your project.
RE: Making a coin/token - just - Jul 6, 2024
(Jul 1, 2024 12:52 PM)UltraexTrader Wrote: If I'm not mistaken you need like 2-3k$ in order to create a token on the Erc-20 network.
Hello, thank you for your reply.
Indeed, it's very expensive on ERC-20. However, during the last 4 days I have been doing research, and I have come to conclusion, that launching a token on Solana Network is the best option in terms of simplicity, documentation and my goals.
RE: Making a coin/token - Neal Caffrey - Jul 7, 2024
(Jul 1, 2024 12:52 PM)UltraexTrader Wrote: If I'm not mistaken you need like 2-3k$ in order to create a token on the Erc-20 network.
You are mistaken
If you want to make a coin, go learn Solidity (if you're a good C++ developer, you'll pick it up very easily). If you don't want to pay ridiculous network fees, go test it on a testnet chain like Sepolia or on a cheaper chain like BSC.
RE: Making a coin/token - AVNTeller - Jul 7, 2024
This sounds really cool
RE: Making a coin/token - xPlutus - Jul 7, 2024
If you're looking to launch a project that will survive, you:
Put €5k in liquidity and burn / lock it.
SOLANA:
Buy 80% of the supply (€20k) if you're planning on solana (so you can do automated marketmaking and liquidate those tokens once you get yourself listed on a CEX like bitmart or MEXC
ETH:
Put 5 to 10k in liquidity and lock it for 365 days
Buy at least 60% of the supply
Set a 1% buy and sell tax
Make sure to create a contract with a tier 1 2 3 4
Tier 4 being 30% buy tax
Tier 3 20%
Tier 2 10%
Tier 1 1.5% buy and sell
For ETH you have to do pre-launch marketing so you get at least 300 people in the chat waiting to buy bags (if you don't have enough people, the tiers don't go down in time and dexscreener will flag your token)
The tiers are essentially a way to get your pre-launch marketing investment back + some additional profit.
Hope this helps.
PS, these are the costs that we use +- for launching.
You can do lower of course, but w/o any marketing funds / strategy for post-launch, it's very hard to keep the token alive.
Pps, learn solidity, and the solana CLI
RE: Making a coin/token - just - Jul 8, 2024
(Jul 7, 2024 04:06 PM)xPlutus Wrote: If you're looking to launch a project that will survive, you:
Put €5k in liquidity and burn / lock it.
SOLANA:
Buy 80% of the supply (€20k) if you're planning on solana (so you can do automated marketmaking and liquidate those tokens once you get yourself listed on a CEX like bitmart or MEXC
ETH:
Put 5 to 10k in liquidity and lock it for 365 days
Buy at least 60% of the supply
Set a 1% buy and sell tax
Make sure to create a contract with a tier 1 2 3 4
Tier 4 being 30% buy tax
Tier 3 20%
Tier 2 10%
Tier 1 1.5% buy and sell
For ETH you have to do pre-launch marketing so you get at least 300 people in the chat waiting to buy bags (if you don't have enough people, the tiers don't go down in time and dexscreener will flag your token)
The tiers are essentially a way to get your pre-launch marketing investment back + some additional profit.
Hope this helps.
PS, these are the costs that we use +- for launching.
You can do lower of course, but w/o any marketing funds / strategy for post-launch, it's very hard to keep the token alive.
Pps, learn solidity, and the solana CLI
Thank you for your informative answer, will surely look more into what you said!! Rn I am thinking about buying mID, and since raydium is expensive imo (2,7-3 SOL) I have been looking for better alternatives, ex openbooklab, where mID is ~0.2 SOL. According to my knowledge, openbooklab is just a protocol / fork of FTX, and it is community driven and also open source, so should not be a scam or anything? I can be mistaken about this. Also I am thinking of doing a presale, but still learning about details such as platforms like pinksale, and other things related to them.
RE: Making a coin/token - xPlutus - Jul 8, 2024
Correct, opennooklab is a great solution!
When doing a presale, best to do kyc as well.
RE: Making a coin/token - SIM-5084040 - Jul 10, 2024
(Jul 1, 2024 12:52 PM)UltraexTrader Wrote: If I'm not mistaken you need like 2-3k$ in order to create a token on the Erc-20 network.
Where did u get "$2K-$3K". its not that much
RE: Making a coin/token - xPlutus - Jul 12, 2024
(Jul 10, 2024 06:39 AM)SIM-5084040 Wrote: Where did u get "$2K-$3K". its not that much
You can make a coin for a dyme lol, but without you putting in enough liquidity, the coin will be too volatile. Buy and sells will have a huge impact on the chart. If you snipe 90% and don't sell, then all good the impact will be somewhat less. But still, put enough liquidity, attracts more people
RE: Making a coin/token - Omniscient - Jul 12, 2024
Some good shared info on this thread.
My take is that you don't use ETH. Which is a testament why ETH itself isn't a market winner. New tokens are being issued on other platforms. ETH is too expensive. You can go SOL or TRX imho. I'd stay clear of BSC but maybe if you plan on being a rug-pull then that's actually the best way to go. I'm not a fan of a centralized version of Ethereum network.
If you just want to do some hobby shit, you should probably just go with the cheapest solution. No sense in dropping a few K for experimenting.
RE: Making a coin/token - xPlutus - Jul 12, 2024
(Jul 12, 2024 01:19 PM)Omniscient Wrote: Some good shared info on this thread.
My take is that you don't use ETH. Which is a testament why ETH itself isn't a market winner. New tokens are being issued on other platforms. ETH is too expensive. You can go SOL or TRX imho. I'd stay clear of BSC but maybe if you plan on being a rug-pull then that's actually the best way to go. I'm not a fan of a centralized version of Ethereum network.
If you just want to do some hobby shit, you should probably just go with the cheapest solution. No sense in dropping a few K for experimenting.
+1
Ton is very good to launch coins on as well, imho sol is the way to go.
Like omni said, don't put a few thousand in to your experiment coin, if you don't have a lot of funds, go for pump.fun