How much it actually cost to launch a Meme Coin on Solana
Many of us have considered launching our own cryptocurrency token, particularly Meme coins, due to its potential for high returns with minimal investment. However, one crucial question remains: what is the minimum investment required?
In this article, We will provide a comprehensive guide on how to launch your own meme coin, including the tools I used to mint and add liquidity. Specifically, I utilized:
Step 1 — Minting the Token
To create your token, I recommend utilizing Meme Coin Creator, a trusted platform that I have personally used. This tool has been verified by Blowfish.xyz, the leading security audit company for Solana, ensuring a high level of security and reliability. Notably, Meme Coin Creator has facilitated the creation of hundreds of meme coins daily, making it a popular choice for token creation.
What you need
- Coin Name ( Name of your Token )
- Coin Symbol (A catchy 3to 5 digit symbol)
- Image ( Make sure you add a proper 512x512)
- Total Supply ( 1 Billion is a good number for Meme coin)
- Decimals ( Usually set it to 9)
Once you initiate the token creation process, you will be prompted to authorize three Web3 signatures.
- The first signature is for the Platform Fee, which amounts to 0.5 Solana.
- The second signature is for the actual creation of the token.
- The third signature is for minting and setting the token’s supply.
Please note that the total cost of creating your token, including the platform fee and network fee, will be approximately 0.56 Solana.
Step 2 — Revoking Mint & Freeze Authority
Revoke the Mint and Freeze Authority to ensure you can add liquidity, which is crucial for your token’s trading. Note that this step is essential, as failing to revoke the authority will prevent you from adding liquidity. This process can be done on the same platform and incurs a fee of approximately 0.1 SOL per action, totaling 0.2 SOL.
Step 3 — Creating Market ID
Openbook market id is a unique ID that matches your token. This unique ID is mandatory for trading on the Raydium.io marketplace, the leading exchange on the Solana network.
To create a Market ID, navigate to raydium.io/create-market, which will direct you to the following screen.
Follow the step accordingly:
- Select your minted token as the Base Token.
- Choose Sol as the Quote Token.
- Set the proper size and tick size by considering your total token supply. For instance, if your total supply is 1 Billion tokens:
— Set the order size to 100.
— Copy the corresponding tick size.
— Ensure the values align correctly and fill in the Create Market fields.
Note that creating a Market ID incurs a fee of approximately 2.8 Solana in total. This step is crucial for establishing a trading pair and enabling liquidity for your token.
Step 4 — Adding Liquidity
This step is crucial: adding liquidity to your token. It’s essential to add a sufficient amount to attract market attention. We recommend adding at least $1000 worth of liquidity, but ideally $2000 or more. This will create a decent trading environment and encourage market participation.
For context, if your token’s value is $0.01, you would need to add:
- 100,000 tokens (=$1000) as the minimum recommended liquidity
- 200,000 tokens (=$2000) as the ideal liquidity amount
Keep in mind that Raydium charges a fee of 0.4 Sol for adding liquidity, so factor this into your calculations.
Adding adequate liquidity ensures a smooth trading experience, increases market confidence, and helps prevent liquidity issues. Don’t underestimate the importance of this step!
Step 5 — Burning the Liquidity Pool
As soon as you create your LP, you need to burn your Liquidity pool in order for it to pump. The tool i use is https://sol-incinerator.com/
Total Cost of creating a token on Solna
Let’s recap the costs incurred during the token creation process:
- Minting Token: 0.56 Solana (includes platform fee and network fee)
- Revoking Authority: 0.2 Solana (ensures you can add liquidity)
- Market ID Creation: 2.8 Solana (establishes a trading pair and enables liquidity)
- Liquidity Pool on Raydium: 0.4 Solana (initial liquidity addition fee)
Total Fees: Approximately 3.96 Solana (round up to 4 Sol for simplicity)
Minimum Liquidity Requirement: 1200$ (equivalent to 8–10 Sol, depending on the token’s value)
Total Cost with Minimum Liquidity: 12–15 Solana (includes all fees and minimum liquidity)
This breakdown should give you a clear understanding of the costs involved in launching a meme project on Solana. If you need assistance or guidance, feel free to reach out to Meme Coin Creator or visit their website at https://memecoincreator.com for smooth launch.
