Part 1: Basic Understanding: Understand "What" Before Taking Action
This section focuses on the core concepts and underlying logic of cryptocurrency issuance, helping newcomers establish a correct understanding and avoid pitfalls due to conceptual confusion. Key issues include:
1. What exactly do we mean by "issuing currency"?
- Issuing a token: This means creating a token on a blockchain. You define the name and quantity of this token, and you are the founder of this token.
2. Which blockchain is best for beginners to issue tokens?
- For beginners: In terms of technical barriers and costs, Binance Smart Chain (BSC) and Solana Chain are more suitable for beginners to try out, while GTokenTool supports multiple mainstream chains.
3. How can I issue cryptocurrency?
- Normally, issuing tokens requires a programmer to write code and then deploy that code to the blockchain. If you don't know how to code, you can use a one-click token issuance platform like GTokenTool to do it. You only need to pay a small service fee to create tokens.
4. Does the cryptocurrency issuing platform have backdoors?
- The token issuance platform earns a service fee, specifically a creation fee. A fee is charged each time a GTokenTool token is created. GTokenTool's code is open source and runs locally. If you have any concerns, you can audit the contract code yourself.
5. How much service fee do I need to pay when issuing cryptocurrency?
- The fees for issuing tokens vary across different blockchains, and are typically paid in the chain's own token. For example, we charge BNB for issuing tokens on the Binance Chain, and SOL as a service fee for issuing tokens on the Solana Chain. Please refer to the fee documentation for specific fees for each chain.
6. Will the token be traded after it is issued?
- Once a liquidity pool is created for the token, it can be traded.
7. Can the issued token be listed on Binance or Easy?
- Theoretically, no; it requires the support of an exchange.
- Advantages: Allows you to set an avatar; supports the creation of price-stable tokens;
- Disadvantages: Only one type of token is available, so tax rates cannot be set;
- Special rules: Includes functions such as blacklisting, token issuance, and updating token information.
- TRON (Tron) Chain
- Advantages: Allows users to set and modify profile pictures, bios, etc.
- Disadvantages: High token issuance costs; limited functionality, currently only offering standard tokens and pure transaction fee tokens;
- Special rule: Names containing URLs, counterfeit coins, or Chinese characters are easily blocked.
- TON chain
- Advantages: Includes an avatar;
- Disadvantages: Limited functionality, supporting only one type of token;
- Special rule: Token information can be issued and updated.
III. Listing and Circulation: Making Tokens "Come Alive"
Tokens need to circulate after issuance to generate value; it's not a matter of "creation and end." Subsequent token management, transaction support, and problem-solving directly determine whether a project can operate smoothly—this is the core value of this section.
1. Where are the tokens located after issuance?
- All tokens will go to the wallet address connected when the token was created.
2. Why don't I see the tokens in my wallet?
- Some wallets do not display tokens directly; you need to add them manually through a custom token addition feature.
Press enter or click to view image in full size
3. How can the token be open-sourced after issuance? How can the contract code be verified?
- Different blockchains have different requirements for contract verification:
- EVM blockchains (BSC, ETH, Base, etc.) are open source by default and require no operation.
- X Layer blockchain requires you to manually open source it ( open source tutorial );
- Solana, Sui, and Ton chains do not need to be open-sourced for the time being;
- TRON blockchain needs to be manually open-sourced (see open-source tutorial ).
4. How can I trade the token after it's issued?
- A liquidity pool needs to be created for the token before it can be traded. The methods for adding a pool vary depending on the blockchain and the trading platform; please refer to the following tutorial for details:
5. Can I transfer money without adding a pool?
- Yes, the token transfer function does not depend on whether there is a liquidity pool, and transfers can be made at any time.
6. Why is the token detected as having a high risk?
- Standard tokens pose no risk. Many risk control or custody platforms assess risk based on various rules such as contract permissions, liquidity pool size, and token distribution. Different detection platforms use different detection logics, and complex features (such as issuance or blacklisting) are more likely to be flagged. For example, the same token might pass OKX's test but fail Binance's. Therefore, if you are concerned about risk, it is recommended to create a standard token directly.
7. Why can't I see the icon/logo for the token?
- Different wallets, blockchains, and platforms have different display rules:
- Paid display: Some platforms (such as Ave and TP Wallet) require a fee to display this information;
- Automatic display: Some platforms (such as OKX Wallet) may display the Solana chain icon by default;
- Manual upload: Some blockchains (such as BSC and ETH) require manual upload of avatars and submission of materials such as official website and social media for verification;
- Data access: Some platforms (such as PancakeSwap and Trust Wallet) will access CMC and CG data.
- Please contact the group administrator @xuxugege to upload your profile picture.
8. Why does the token have no price?
- The price displayed is determined by the platform:
- Supported display: After creating a liquidity pool and trading, platforms such as Ave, Dextool, and GMGN can display the price; OKX wallet may also display the price.
- Display not supported: Platforms such as TP Wallet require "high transaction volume, large number of coin holders, and large capital pool" to display this information, and there is no unified standard.
9. Do we need to create an official website and white paper for the token?
- It is recommended to create one (if funding and technology permit). A mature token project should include: an official website, a white paper, a Telegram group, a Twitter account, a Medium blog, and a Discord account.
- Advanced suggestions:
- Contact an auditing firm to obtain the token audit report;
- Apply for inclusion in CMC (CoinMarketCap);
- Apply for inclusion in CG (CoinGecko).
10. Can the cryptocurrency I issue be integrated with offline industries, companies, or apps?
- It depends on the complexity of the integration; generally speaking, it's unlikely. It would require specialized technical expertise for the integration, and the token itself would also need to be compliant with regulations.
11. Can the token I issue be used on other blockchains?
- Technically, it's possible, but it requires building a cross-chain bridge. A cross-chain bridge allows tokens to move from one blockchain to multiple blockchains. Without cross-chain bridge support, it's not feasible.
12. After I issue my token, I don't have enough money to add funds to the pool or add profile pictures. Can I pre-sell it first?
- Yes, a pre-sale is essentially about using your tokens to raise funds in advance, and then using those funds to market and promote the token.
13. Who can create a fund pool?
- In theory, any address with tokens can create a transaction, but generally, it's the project team that creates it. If you've enabled the "Manually Enable Transaction" feature, then no one other than the project team can create it.
14. After I create the liquidity pool, how do users trade? Where do they trade?
- Generally, users trade on the platform where you create your token. For example, tokens on the BSC chain can be traded on PancakeSwap, tokens on the ETH chain can be traded on Uniswap, tokens on the Solana chain can be traded on Raydium, and so on.
15. Can tokens be traded directly in the OKX Web3 wallet or TP wallet via instant exchange?
- Not necessarily. The wallet uses an aggregated DEX, which only supports tokens that meet its requirements (e.g., TP Instant Swap and Phantom's built-in Swap have specific token requirements). If your token cannot be traded in some wallets, you can contact the wallet's customer service.
16. How much capital is needed to create a fund pool? Is there a minimum requirement?
- When creating a liquidity pool for the first time, there is no universally agreed-upon "minimum threshold" across the entire network—theoretically, you can put in very little money. The specific amount of funds you put in (such as USDT, BNB, ETH, etc.) depends entirely on your budget and project goals; there are no mandatory standards.
17. So, what impact or difference does it make if I invest more or less money?
- In general, the more funds you invest, the more tokens you can trade.
- With an investment of 100 USDT, a user can purchase 100-200 USDT worth of tokens in a single transaction.
- With an investment of 10 USDT, a user can only purchase 10 USDT worth of tokens at a time.
18. Is there a way to invest less money but allow users to buy more?
- Normally, a user can only buy if there is an equivalent amount of USDT in the pool. However, this model can also be achieved in stable pools.
- If it's the Solana blockchain, you can create a CLMM stable pool . Simply add your issued On-Chain meme to the pool using a "single coin plus pool" method, without needing a value coin like USDT, and users can still buy in, thus achieving a "small pool, large amount" trading method.
19. Do I need to add all the tokens before creating a liquidity pool? Can I reserve some?
- Of course you can. When you create liquidity for the first time, you can add any number of tokens to the liquidity pool (but not exceeding the total token supply). You don't need to put all of them into the liquidity pool. How much to reserve is entirely up to you.
20. Will all the coins in the pool be bought up? What happens if they are all bought up?
- From the perspective of the liquidity pool's contract logic, the scenario of "the pool being completely depleted" will not occur. The number of tokens in the pool will decrease with each purchase, but the price will gradually increase. Thus, the number of tokens in the pool will approach zero, while the token price will continue to rise, approaching infinity. Therefore, the number of tokens in the pool will not completely become zero, but will only gradually decrease. Furthermore, as the token price increases, the number of tokens that can be purchased will also decrease. If you want to increase the number of tokens in the pool, you can do so by increasing liquidity.
- Important reminder: Do not transfer tokens directly to the pool address, otherwise the USDT in the pool will be emptied.
21. Can the money invested in the fund pool be withdrawn?
- When you create a liquidity pool, you receive an LP (Liquidity Certificate) token, representing your share in the pool. You can withdraw your tokens from the pool at any time, as long as you don't burn these LP tokens. However, the amount you can withdraw depends on the current number of tokens in the pool.
22. When someone buys my tokens, where does the money go? Does it go directly to my address?
- No. When someone buys your tokens, they put their money into a liquidity pool. Then the pool gives them the tokens. If they sell tokens, they put the tokens into the pool, and the pool gives them the money. So, the whole process relies on the liquidity pool. If you want to get the money from users buying tokens, you can simply withdraw from the liquidity pool.
- Users buy tokens: They transfer money into a liquidity pool, and the liquidity pool issues tokens to users;
- When a user sells cryptocurrency, the cryptocurrency is transferred to a liquidity pool, and the liquidity pool then distributes money to the user.
- Project team receiving funds: They need to withdraw funds from the fund pool to receive funds from users who purchased tokens.
23. If someone buys my tokens, can I freeze them to prevent them from selling them?
- This can be achieved if your issued token has a blacklist feature. However, this feature is highly risky, and tokens with this feature may be detected as high-risk tokens.
24. How is the token price determined?
- The initial price of the token is determined by the proportion of the first pool addition. If you add 100 U and 100 coins, the initial price of the token will be 1 U. If you add 100 U and 10,000 coins, the initial price of the token will be 0.01 U, and so on.
- Add 100 USDT + 100 coins, initial price = 1 USDT/coin;
- Add 100 USDT + 10,000 coins, initial price = 0.01 USDT/coin.
- Price fluctuations are solely related to buying and selling. When buying pressure exceeds selling pressure, prices rise, and vice versa. Simply put, the more you buy, the higher the price goes; the more you sell, the lower the price goes.
25. Can the price of that token be fixed?
- By creating a stable pool, the price of a token can fluctuate within a smaller range, thus achieving relative price stability.
26. I heard that Solana requires a Market ID to create a liquidity pool? Is that true?
- Not entirely. The Solana blockchain platform offers six types of liquidity pools: AMM, AMM V4, CPMM, CLMM, PumpSwap, and DLMM stable pools. Of these, only AMM requires a market ID (a market ID must be created before creating an AMM, and this incurs a cost). If you don't want to pay this fee, you can choose other types to create your pool. You can refer to the tutorial below:
27. So what exactly is a Market ID?
- An Openbook Market ID is a unique ID that allows your tokens to be traded on DeFi platforms. This ID enables major exchanges to identify your liquidity, so one ID can only correspond to one trading pair (e.g., USDT/SOL). This is a historical product and not a mandatory operation.
28. Why do I still get a "insufficient liquidity" message when trading tokens even though I've created a liquidity pool?
- Generally speaking, there are two reasons for insufficient liquidity:
- The DEX does not support this liquidity (e.g., OKX wallet aggregates DEXs but does not support some pools).
- If the number of transactions exceeds the number of tokens in the liquidity pool, liquidity needs to be increased or the transaction amount needs to be reduced.
29. I created a liquidity pair for BNB. Can I purchase it with USDT?
- No problem. The liquidity pool will automatically convert USDT into BNB and store it in the pool, so there's no need to worry. You can exchange freely.
