Create a Liquidity Pool and Claim your Token Taxes on Fluxbeam Dex
How to easily create liquidity pools and claim your token taxes using the FREE tooling provided by Fluxbeam DEX.
Introduction
If you have not created your new token yet, and you plan to, start here first — https://link.medium.com/VVSWfVFvXGb
Now that your token is created, for anyone to be able to trade (buy/sell) your new token, you need to pair it with another token (like SOL) in a liquidity pool. This allows anyone to purchase your token using that paired token — in this case, we will use SOL.
So if you remember from the previous tutorial on how to create a token we created the TUT token, and we own the entire supply. So let’s create a pool so others can buy it, and we can also collect our Token Extension, Transfer Tax.
Tutorial —
- Go to https://fluxbeam.xyz/ and click DEFI, then click POOLS. Make sure the wallet you are connecting to Fluxbeam, is the wallet that holds your new token.
2. On the far right, under your wallet, you will see CREATE POOL, click that.
3. Now you have to choose your BASE TOKEN, which will be the new token you have created, and you also need to choose the QUOTE TOKEN, which will be in our case SOL, as that is what we are pairing with the token we have created.
4. When the menu first comes up, it will not have your new token, you will need to search for it. Simply click where you see SOL in the BASE TOKEN field, paste the CA/mint address for your new token, and click ADD TOKEN. You can find your token mint address in your wallet.
5. Your new token should show up like this, it may say custom for a few seconds, but it will update to the proper name if you set it up correctly.
6. Now that you have added your new token, make sure you select it as the BASE TOKEN LIQUIDITY. Next, choose the token you are pairing it with in this pool. We will be choosing SOL. (Wrapped SOL is the same thing, it replaced SOL in DEFI for various reasons)
7. Once you have selected the pair you are using, you need to decide how much of the BASE TOKEN you are putting in the liquidity pool, and how much of the QUOTE TOKEN you are spending. This will set the starting price. In our case, we are putting ALL of the TUT supply in the liquidity pool (1 billion tokens), and since we are just doing a tutorial, we will use a small amount of SOL, just 0.15.
8. Now when you are satisfied with your pool amounts, you can click CREATE POOL. We should mention here, that you don’t have to put all the BASE TOKEN, into the POOL. It will depend on your tokenomics. Once you click CREATE POOL, you will need to review and sign the wallet transaction, if it matches what you wanted.
9. Success — the new TUT-SOL pool has been created, and its ready to be traded.
10. Since the pool has just been launched, it will immediately appear in the Fluxbot pool sniper for trading via Fluxbot. It will also be tradeable on FluxBeam Dex. You can subscribe to the pool sniper here — https://t.me/fluxbot_pool_sniper
11. Now let’s go to the DEX and make sure that TUT is tradeable. Just click SWAP on FluxBeam to be taken to the SWAP page. Change the YOU’RE PAYING field to SOL (that is what TUT is paired to) and then search for TUT in the TO RECEIVE field, you can also just paste the CA/Mint Address.
12. So in the above example we are spending 0.005 SOL to purchase TUT. So we click SWAP now and because we only have a very small amount of LP we will get a WARNING, this is to protect Fluxbeam users and make sure they know they are trading into a low LP pool and could get a bad price. We are ok, as we are just doing a tutorial, so we click ACCEPT.
13. Now we just have to sign the wallet transaction — click CONFIRM, remember TUT has a 1% transfer tax (Using token Extensions) so consider that when reviewing the transaction. Also, consider the Solana base fee and priority fees if you are using them.
14. Just wait for the transaction to process. Great, now we have bought TUT. Remember TUT has a 1% transfer TAX, so let’s go and claim that fee.
15. To claim our transfer fees, simply click TOOLS at the top of the Fluxbeam Dex page. Then click FEE MANAGER.
16. Once in FEE MANAGER, paste your token CA/ MINT ADDRESS into the field, and just click GET ACCOUNTS.
17. Now you will see the total amount of TUT tokens you have to claim from the transfer fees. In this case, the total is 11,297,744.698 TUT for us to claim. Just click CLAIM TOKENS to claim them. Its that easy!
18. As always review the transaction details in the wallet pop-up and if you agree click CONFIRM.
19. That's it, you have now CREATED YOUR TOKEN, CREATED A LIQUIDITY POOL, FUNDED THE POOL, OPENED TRADING, AND CLAIMED YOUR TOKEN TAXES from those trades, all using the FluxBeam Dex and FREE TOOLING.
Congrats on your Token Launches!
