Creating a token on basic blockchain: no code guide

Base is an Ethereum Layer-2 blockchain that has grown in popularity thanks to its low fees, minimal congestion, and the security guarantees it inherits from EVM. The blockchain has become an attractive option for those looking to create and launch their own tokens in 2024. This guide demonstrates step by step how to create a token on the Base blockchain without any programming skills. Here’s what you need to know.

How to create a token on Base: Step by step

Using Smithii Tools’ Base Token Creator (a protocol fully vetted by CoinFabrik), you can create a token on the Base blockchain in just a few simple steps – with no coding required. In short, you must:

• Connect your wallet to the Base Token Creator tool
• Enter and define your token details
• Customize using advanced features (if you choose)
• Confirm your choices.

Here’s what the process looks like in more detail.

Step 1: Connect your wallet

To get started, visit the Base Token Creator tool. Then connect your Base-compatible wallet, such as MetaMask or Coinbase Wallet.

Token Creation: Basic token creator

Step 2: Define your token details

Next you need to enter the basic details of your token:

Name: Choose a unique name for your token that reflects its purpose or branding.
Symbol: Select a symbol (usually a 3 to 4 letter abbreviation) that represents your token on wallets and exchanges.
Delivery: Determine the total supply of your token. This is the maximum number of tokens that will be minted and distributed.

Add hypothetical details: Smithii

Step 3: Use advanced options (optional)

For those who want to further customize their token, the Base Token Creator offers several advanced features:

Tax: Set a transaction fee to be collected on each token transfer and specify the wallet address to receive this fee. This feature is useful for generating revenue or financing future development.

Airdrop mode: Enable this mode to prevent users from sending or trading your token until you deactivate it. This can be useful during the initial distribution phases.

Anti-bone protection: Limit the impact of bots on your token’s liquidity pool by setting limits on the time interval between transactions for each wallet. This prevents a wallet from performing more than one transaction within the same block.

Anti-whale mechanism: Protect your token from large holders who can potentially manipulate the market by setting limits on the amount a single wallet can buy or sell and the total number of tokens one wallet can hold.

Set advanced options: Base Token Creator

Step 4: Create your token on Base

Make sure you are on the Base mainnet: Base Token Creator

Double check that your wallet is connected to the Base mainnet. If not, click the ‘Switch wallet’ button as shown above.

Once you have entered all the necessary information and configured the desired advanced options, you can click ‘Create Token’. Confirm the transaction in your wallet; Within a few moments your token will be created and visible in your wallet.

Once you are sure of the details, create a token: Base Token Creator

Launching your token: creating a liquidity pool

Once your token is live on the Base blockchain, creating a liquidity pool is the next step. This is crucial to enable trading on decentralized exchanges such as Uniswap. Here’s how you can do it:

1. Go to the Create Liquidity Pool online tool, make sure you have selected the Base blockchain and connect your favorite wallet.
2. Choose the “Base Token” (usually $WETH, $USDT, $USDC, etc.) that defines the price.
3. Choose the “Quote Token”; this is your token, ready to go to the market.
4. Add liquidity, choose the Base Token and Quote Token amounts to match; this defines the initial price of your token.
5. Click on “Create Liquidity Pool” and accept the transactions.

A few seconds later your liquidity pool is created. It will be launched in Uniswap; you can go there to see it. The cost to create a basic liquidity pool in Smithii is 0.001 WETH, which includes the cost of creating the token pair and the liquidity pool.

Understanding the Basics of Basic Tokens

Since Ethereum’s inception in 2015, one of the main hurdles to using this blockchain and the broader crypto ecosystem has been the need for advanced programming skills to initiate a project.

Specifically, writing a smart contract in Solidity, Ethereum’s native language, is essential.

However, the rise of low-cost chains like Base and decentralized applications (DApps) have simplified these processes, making it possible to create ERC20 tokens without any coding expertise and without spending hundreds of dollars on the process.

Why create a token on the Base blockchain?

The decision to create a token on the Base blockchain brings several advantages:

Low transaction costs: One of the main benefits of using Base is the lower transaction costs. Compared to Ethereum, which suffers from high gas costs during periods of network congestion, Base offers a more cost-effective solution for token creation and transactions.

Scalability and speed: As a layer 2 solution, Base is designed to quickly handle a large number of transactions, making it ideal for projects that expect significant user interaction or require frequent transactions.

Security and Compatibility: By adhering to ERC20 standards and operating as a layer-2 blockchain on Ethereum, Base inherits Ethereum’s best security features. This ensures that your token enjoys the same level of protection as those on the Ethereum mainnet.

Early Adoption Options: Base is still in its growth phase, meaning early adopters can establish their presence in an ecosystem that is likely to expand. Being among the first to launch a token on Base could provide a competitive advantage.

What you need to create a token on Base

As demonstrated in the process above, creating a token on the Base blockchain is simple. However, you still need to prepare a number of things in advance:

1. Compatible wallet: First and foremost, you need a wallet that supports transactions on the Base blockchain. Popular options include MetaMask and Coinbase Wallet, which are widely used and easy to set up.

2. Money in your wallet: To cover the costs of creating your token, you will need a small amount of ETH in your wallet. Smithii’s Base Token Creator tool costs 0.01 ETH, making it an affordable option for most users.

3. Marketing plan: Although optional, having a solid marketing plan can significantly increase the success of your token. Whether you use your token for management, payments, or as a meme coin, a well-thought-out marketing strategy will help you reach your target audience and build a community around your project.

Listing your base token on exchanges

Consider listing your token on platforms like CoinMarketCap and CoinGecko to gain broader visibility and attract more users. These listings are free but require you to submit an application.

Listing your token on these platforms will reach a wider audience and provide valuable market data that users can trust.

What is an ERC20 token?

ERC20, which stands for Ethereum Request for Comment 20, is a technical standard used to create fungible tokens and transferable digital assets on the Ethereum blockchain and other EVM-compatible networks such as Base, Coinbase’s native blockchain.

Unlike Bitcoin, which operates on its blockchain, an ERC20 token exists on the Ethereum blockchain and uses its network for transactions and fees.

Over time, the ERC20 standard has become widely accepted. This has enabled seamless interaction between wallets, exchanges and all Ethereum-based platforms as they all follow the same rules.

Applications of ERC20 tokens on Base

Companies and organizations use ERC20 tokens on Base Blockchain for various purposes. Some of the most common use cases include:

Asset Tokenization: ERC20 tokens facilitate the conversion of physical assets, such as real estate or works of art, into digital tokens. This process makes these assets more easily tradable and accessible to a broader audience of investors. Due to the low rates, this is especially useful on Base.

Management: Organizations can enable governance mechanisms by distributing tokens on Base within a community. Token holders can exercise voting rights within decentralized autonomous organizations (DAOs), allowing for decentralized decision-making.

Decentralized Finance (DeFi): Basic tokens play a crucial role in DeFi by enabling complex financial transactions. They can represent interests in liquidity pools and support automated processes, making financial transactions more efficient.

Loyalty and rewards programs: Companies can create base tokens for loyalty and rewards programs, driving continued engagement and customer loyalty through token-based incentives.

Fundraising: ERC20 tokens are often used in fundraising, mainly through Initial Coin Offerings (ICOs), where they serve as a digital currency to attract investment.

Meme coins: An ERC20 token can be a meme coin; it only depends on the nature given to the token at the time it is created. Within Base, meme coins have been an important growth driver in 2024.

No creation of code tokens opens up new possibilities

Creating a token on the Base blockchain isn’t just about launching a digital asset; it’s about establishing a presence in a rapidly maturing ecosystem. Whether you are a developer, project owner or entrepreneur, the ability to create a token without coding knowledge opens up new possibilities for innovation and engagement in web3.

What was once a complex process is now accessible to anyone with a vision and a wallet. By planning the launch of your token, including its marketing strategy and liquidity management, you can ensure it stands out in the increasingly competitive blockchain world.