Here is a step-by-step Guide To Help You Create Your Crypto Coin
In less than 60 seconds and for less than $1 US, you can create your cryptocurrency on the SUI blockchain. In this blog post, I'll show you how to do it, add liquidity, and get people trading your coin today.
A quick word of warning - meme coins are not serious investments or long-term holds. A lot of this is just for fun, and I'm here to feature interesting tools and things on the SUI blockchain. This post is in collaboration with the SUI Foundation, so give them a follow on social media.
Creating a Meme Coin Project
To get started, you'll need an image and a coin name. Since "SUI" means water, let's go with something water-themed. Meme coins also love dogs, so we'll create an image of a dog wearing a rain hat.
I used Microsoft Bing to create the image for free - no subscription required. Bing uses AI to custom-make an image for you. We're looking for a portrait image that can be used as the coin thumbnail.
For the name, let's go with "C Dog ENU with Hat".
Building Your Coin on SUI
Now for the technical stuff - we're going to build our coin on the SUI blockchain using SUI Coins. This website allows you to input the coin name, symbol, description, image, number of decimals, total supply, and whether to send the coins to the contract or yourself.
For a meme coin, you want a large supply so the coin price seems low. We'll go with 1 billion coins. Having the coins sent to yourself makes it easier to add liquidity later.
After confirming the transaction, which costs less than $1 at the current SUI price, your coins are generated. You can view the details on the SUI blockchain explorer.
Adding Liquidity
To allow people to start trading your coin, you need to add liquidity. We'll use the popular decentralized exchange Clob.
First, copy the contract address (type) of your coin from the blockchain explorer. Then go to the Clob website, connect your wallet, and navigate to the Earn > Pools section.
Click "Create Pool" and select your token. Since it's a new coin, it won't be in the default list, so paste in the contract address. Set the initial price and amount of SUI you want to add.
Preview the transaction to see how many of your coins will be added. If you're happy with it, hit "Create and Add Liquidity". Approve the wallet transaction and pay a small gas fee. The pool is now created and should show up on the front end within 10 minutes.
Airdrops and Swapping
In the future, SUI Coins plans to allow swapping and using liquidity pools directly on their site. For now, you can airdrop tokens by selecting your coin, or wallet, and either uploading a CSV of addresses and amounts or airdropping to a pre-approved NFT collection.
To swap your new coin, go to the Clob Swap interface. Type in your contract address to select your token. Trade some SUI for your coin at the current price. Approve the transaction and you'll receive your new tokens.
And that's it! You've successfully created your own cryptocurrency on the SUI blockchain for under $1. Have fun with your meme coin, but remember, the real value comes from building a community. Let me know if you create anything interesting!
Read more here on related topics
Disclaimer
This blog post is for informational and entertainment purposes only.
Creating meme coins and other cryptocurrencies is risky and speculative.
The author is not a financial advisor. Meme coins and other altcoins are highly
volatile and can lose significant value quickly. Only invest what you can afford to
lose. Do your own research before buying any cryptocurrency.
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