How to create a token yourself and attract investments in the project?
Is it possible to create a token alone and attract investments into the project? We analyze networks, methods of creation and access to the exchange for trading.
Cryptocurrency is trending right now. Capitalization has peaked, and more and more people are exploring the digital asset market. Some are ready to make money on speculation, holding coins, staking and farming. Others try to create a token and use it to implement complex projects.
It may seem that only programmers with a budget of millions of dollars over years of painstaking work are capable of creating a token . But this is not the case when it comes to a token, and not a cryptocurrency with a personal network.
Let’s talk about which platforms allow you to create a digital coin and which blockchain to choose. In addition, we will answer the main questions: how much does it cost, how to attract investors.
Choose a platform
The top three most popular are Ethereum, Binance Smart Chain and Polygon. Then come Heco, Arbitrum and OKchain. There are other more affordable options as well. However, low commissions in alternative services indicate weak security. If the project really starts to develop, and the tokens are stolen, this will lead to collapse. Therefore, let’s focus on the leaders.
Ethereum is the most popular and trusted network
The platform is chosen by hundreds of startups. Perhaps this is happening in the hope of repeating the success of the Golem Network. They raised $8 million in 20 minutes.
The main advantage for which you should choose a network is a quick access to a huge audience. Ethereum users number in the millions and everyone has money. In addition, they are ready to invest in a promising project.
However, the ETH network is in the process of transitioning to a POS transaction processing algorithm . It can currently process 3,200 trades per second, making payments expensive. In particular, for each transaction you will need to pay at least $ 45 commission.
Binance Smart Chain – Cryptocurrency network of the largest exchange
The advantages of this platform include high bandwidth and an intuitive interface. In addition, the main “fuel” in the network is the BNB token. It has grown from $40 to $600 over the past year. All created coins also reached up after him.
Once a digital asset is created, it will be available to millions of users around the world. If the project has value and uniqueness, then they can invest in it from the first minutes of its existence.
Polygon is a convenient network for ordinary users
The platform was launched in 2020. The main token of the network is Matic, the price of which is around $1.5. Polygon is an Ethereum-compatible second-level sidechain operating on the POS algorithm. Recall that Ethereum is only at the stage of transition to this method of confirming transactions.
The network developers were able to keep all the advantages of ETH. In particular, it is a high degree of decentralization and thousands of transactions per second. In addition: hundreds of DeFi projects have already been developed on this platform. Here are some of them: NFT Aavegotchi, F1 Delta Game, Artvatars and other popular sites.
The main advantage of using Polygon is that anyone can create a token. This will literally take 5 minutes. Let’s take this network as an example.
Create a token in 5 minutes
To do this, we will use the decentralized Dodo Finance service. In addition, you will need to register a MetaMask wallet. Then follow this instruction:
- log in to Dodo Finance and click “Connect Wallet”;
- follow the prompts;
- then select a network (in our case, Polygon);
- open the “Tools” item and click “Create a token”;
- fill in the data (name, total coin supply, ticker, decimal number).
Click Create. The token is ready. Like this, on the constructor in a few clicks.
How much does it cost
After creation, you will need to pay a commission of 1 Matic (the main coin of the Polygon network). Its price is currently in the region of $1.5. When the payment is successfully completed, all tokens will be credited to the balance in the MetaMask wallet.
How to add a coin to the exchange
In order for users to be able to purchase a coin, a pool of funds will need to be created. This is done on Dodo Finance through the “Tools” tab in the “Create Pool” item.
Choose your own token and any stablecoin (USDT, USDC, BUSD). You set the price. For example, 100,000 coins will be worth $1,000. Thus, the price of one token will be $0.01. To prevent the price from skyrocketing from buying and from dropping to zero when selling, add liquidity. All this is done through the MetaMask wallet.
Now anyone can purchase the created token. By the same principle, coins are added to other decentralized exchanges.
The creation of coins in other networks is almost identical. The differences are in technical characteristics, fees and commissions.
How to get listed on Binance and other major exchanges
his information is available in the FAQ section on the marketplaces. In order for the coin to start trading on the largest cryptocurrency resources, you will need to create a document about the project (White Paper). In particular, it should describe all the problems that the asset solves. In addition, include technical information and data about the founders.
The project will be moderated. Management will then make a listing decision.
How to attract investors
After the launch of the digital coin, the official website and the addition of a liquidity pool, the token will appear on the Defi site. In addition, the coin must be deposited into the CoinMarketCap database. Thousands of potential investors will see the currency there.
Also, to attract contributors, use advertising tools, publish in the media and sources with a potential audience. Well-developed, useful projects always find a response and receive the necessary funding. Although even meme-coins can have a capitalization of millions of dollars.
As you can see, creating a token is the smallest piece of work. Currently, there are dozens of networks that allow you to launch a new coin. So choose according to your needs and budget.
The main task is to generate interest in the project. The surest way to do this is to offer something new and practical. There are already thousands of “comic” coins like Doge and Shiba Inu. It’s time to implement ideas that are useful for society.