This article will discuss how to launch a token on a Dex. Dex, which entirely means Decentralized Exchange, is a peer-to-peer platform where various crypto-related transactions occur between traders. Dex majorly helps to enable the conducting of different transactions without an intermediary.
What is an IDO in Crypto?
IDO, also known as Initial Dex Offerings, are tokens that stand as indicators or symbols of any asset hosted on a decentralized exchange (DEX). It is recognized as an approach to raising funds for various crypto projects.
What is Dex Tokens?
Decentralized Exchange (DEX) tokens are the native crypto asset of these decentralized exchanges that help power activities on the exchange. These tokens are present on the decentralized exchange and help make activities and transactions go quickly and smoothly.
How Initial Dex Offering (IDO) Works
The initial dex offering (IDO) uses a specific decentralized exchange to help facilitate token sales. Once there’s a project relating to releasing a new crypto token or coin, the particular tokens or coins would be provided to the specific decentralized exchange (DEX). Users on the platform will dedicate their funds to the exchange platform. This decentralized exchange platform (DEX) will complete the decisive distribution and transfer of the newly created coin or token. These processes are usually made possible using smart contracts on the blockchain.
RECOMMENDED: Wink Token Price Prediction 2022 – 2030: How to Buy Wink Coin
IDO Vs. ICO Differences
The significant difference between the initial dex offering (IDO) and the initial coin offering (ICO) includes:
• Fund Raising:
ICO: Crowdfunding is being done by issuing a utility coin or token through the blockchain platform.
IDO: Crowdfunding is being done by issuing and selling a proposed coin or token via a Decentralized exchange platform (DEX).
• Marketing and Advertising:
ICO: The project team handles all activities relating to advertising and marketing.
IDO: The team that handles the Dex and project is responsible for marketing and advertising.
• Trading and Liquidity:
ICO: There’s immediate liquidity after launching on coin exchange (CEX).
IDO: There’s immediate liquidity and trades on any Dex.
ICO: The regulation policy depends on the region.
IDO: It is unregulated.
ICO: There are no fees as a result of intermediaries.
IDO: No fees, but there’s a gas fee for smart contracts provided.
The IDOs have various advantages over ICOs:
- The marketing effort is shared by the platform rather than a personal project.
- IDOs are stable because traders and investors do not get all the tokens once.
- The placement of tokens on Dex occurs when sales take place.
IDO LaunchPad List:
Below are the best and most successful IDO platforms currently available.
- Fire Starter: IDO launch pads for metaverse platforms.
- Trust Pad: Safest multi-chain IDO launchpad.
- Seedity: Popular IDO launchpad.
- GameFi: Best IDO launchpad for best ROI
- BSC pad: First decentralized IDO platform on binance.
How to List a Token on Pancake Swap
Listing a token on pancake swap is relatively easy, and one can do this without any much issues. It would help if you were careful with the address you intend to import. You need to go to bscscan.com to get the contract address you intend to list.
Once you have obtained the address, go to the pancake swap and paste the smart contract on the search bar. Click on trade, add liquidity, then click on supply and approve the transaction.
It is vital to create a pool; you need to click on create a pool, which will be created on pancakeswap. Then set your price and click on supply and also approve your transactions, you could add more liquidity, and at the end, you have your liquidity pair. A message showing your transaction was submitted will appear, and then you will see the tokens in your wallet and see the trading pair.
Click on the trade transaction, and see the transaction for the created liquidity. Once done, your token is ready to be traded on pancakeswap.
How to List Erc20 Tokens on Exchange
Below are the steps to listing your erc20 tokens on an exchange.
- Go to the exchange platform of your choice.
- Connect your wallet to the platform.
- Click on the option “Pool” on the specific exchange platform of your choice.
- Select “Add Liquidity.”
- Paste the contract address of the erc20 token you intend to list on the “Search Address” field and select it from the dropdown.
- Click on “Add” under the name of your token.
- Enter the amount of your token and ETH you intend to deposit in the pool.
- Click on “Approve.”
- A confirmation will be required from your exchange platform; click on the “Supply” button.
- Approve the supply with the “Create Pool and Supply” option.
- After the transaction is complete, you will get a message showing your transaction has been submitted.
Launching your tokens on a decentralized exchange is relatively easy if you adhere to the abovementioned steps. Ensure to research more and get vital additional information to help make your process easy. We hope this article will help you launch your respective token on any decentralized exchange of your choice. Kindly visit our comment section for all your questions and clarifications.
- I am a content writer with over 2 years of experience in content writing. I create quality and highly researched content on cryptocurrency and forex.