Create OpenBook Market ID and Reduce Costs with Confidence
If you are looking for a solution to create a “Cheap Openbook Market ID” you might be a bit confused. In this article you can learn how to create a market id in seconds with Openbookv2 for only 0.2 SOL. If you like this article, please don’t forget to comment and follow me :)
Let’s start if you are ready…
Step-by-Step Creation of a Market ID
1. Visit https://www.openbooklab.xyz
Base Mint: Your token mint address.
Quote Mint: The token you wish to pair with your token.
SOL: So11111111111111111111111111111111111111112
USDC: EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v
USDT: Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB
2. Adjust the settings:
Min. Order Size: Minimum order quantity for the order book.
Example: Set to 4 -> Can place an order for 0.0001 unit.
Example: Set to 0 -> Can place an order for 1 unit.
Example: Set to 1 -> Can place an order for 0.1 unit.
Price Tick: Number of decimal places for price display.
Example: Set to 5 -> The token price is displayed with 5 decimal places, like 11.12345.
Example: Set to 4 -> The token price is displayed with 4 decimal places, like 11.1234.
Note:
The minimum order size should not exceed the base token’s decimals.
The price tick size should not exceed the quote token’s decimals.
The sum of ‘Minimum order size’ + ‘Price Tick’ should not exceed the quote token decimals.
Example:
If base token A’s token decimal is set to 9, paired with USDC with a token decimal of 6.
The minimum order size should not exceed 9.
The price tick size should not exceed 6.
‘Minimum order size’ + ‘Price Tick’ should not exceed 6 (quote token decimals).
Therefore, you can set the minimum order size and price tick to 3 and 2 (total 5, less than 6), but not 4 and 4, as the sum exceeds 6.
To create an Openbook Market ID, refer to the application video below. The process takes approximately one minute.
Add Liquidity on Raydium
To add liquidity on Raydium, simply follow these steps:
The cost of adding liquidity on Raydium is approximately 0.65 SOL.
Go to ‘Liquidity Create’ on the Raydium website https://v2.raydium.io/liquidity/create/ paste the Market ID, and click continue.
To establish the initial price and liquidity quantity, follow these steps: Prepare your tokenomics and strategy, set the desired initial price and liquidity quantity, and confirm to complete the process.
CONCLUSION;
Our next article will provide a comprehensive guide on delivering your project and building a successful community. Good luck!
