Hello Steemians!
The fourth week of the 5th season has arrived very soon. Today I have taken another interesting lesson as a continuation of the previous lesson.
Today our topic is "How to list your own Token on a Public Exchange." Of course, you will learn many new things through this lesson. It is also important to remember that if you did not attend my previous lesson, you should study it as much as possible and create your own token before attending this lesson. So let's go straight to the lesson.
As I described in my previous lesson. Anyone can create their own Crypto Token Based on another Blockchain. And also, anyone can list these tokens easily in a decentralized exchange such as PancakeSwap Exchange. However, if we want to list our tokens in a centralized exchange, there are several specific requirements for each exchange.
As an example, if we want to list our Token in Binance Exchange, we have to create a different application including all the relevant details of our project. Then a member of the Binance Team will manually check our submissions according to their requirement. Below I've included some of the relevant requirements to list any Token in the Binance Exchange.
Quality of the Project of our Token.
Transaction amount of our Token.
Buying and Selling Liquidity.
Total Supply, Circulation Supply and its price.
However, we can easily list our tokens in a Decentralized Exchange without paying any extra fee. The most important thing is that we should have the ability to provide liquidity to our tokens. Till then, the value of our token will remain 0. Actually, providing liquidity is not an easy task as we have to sacrifice a big amount of cost. Therefore, today we will learn everything about listing our Token in the PancakeSwap Exchange without providing liquidity.
First of all, you need your own Crypto Tokens. For that, I have already explained How to Create Your Own Crypto Token through my Previous lesson. So, if you didn't participate in my previous lesson, you should visit it and follow all the steps. Then you can easily create your own Crypto Token and you will be ready for the first step.
So, now we already have Steemit Crypto Academy Tokens (SCA).
Then, we have to deposit a small amount of BNB to our MetaMask wallet for paying the gas fee. Actually, we have already deposited the required amount of BNB in the previous lesson. If you have already participated in my previous lesson, you don't need to deposit BNB again. Otherwise, you need to demonstrate all the steps to deposit some amount of BNB coins from any Exchange wallet to MetaMask wallet.
After that, we need to have another wallet such as "MathWallet, TokenPocket, Trust Wallet". Because In today's lesson, we have to distribute newly created Crypto Token into another wallet. We can easily create these wallets following the same method which we used for creating the MetaMask wallet.
Here I've selected Trust Wallet as an external wallet. You can easily install Trust wallet to your mobile phone using the Apps Store. Alternatively, you can use the https://trustwallet.com site directly to download the app.
First of all, we need to find the contract address of our Token. If you didn't note it the previous time, you can easily find it through your MetaMask Wallet transactions. Below I have shown you how to find the Contract Address related to your newly created Token.
Click on "Activity" in your MetaMask Wallet. Then you can find your Contract Development Details.
After that, you can click on the "View Transaction" Button same as the below-included screenshot.
Then you can easily find the Contract Address. You should keep this Contract Address in a closer place as this is very essential for everything related to our newly created Token. Especially, if you need to send your Tokens to another wallet, you have to use this Contract Address for installing your Token in any wallet.
(SCA) Contract Address - 0x27dabfe86c157ea8a4fc5e521608be93355fa32f
Now I have the Contract Address of my Token. So, it's time to list my Token in PancakeSwap Exchange.
You can directly go to the https://pancakeswap.finance site for opening PancakeSwap Exchange. Then you can click on "Trade" and "Exchange".
After that, you need to Connect your wallet and the PancakeSwap. Therefore, you can click on "Connect Wallet" and select your desired wallet.
Then you need to import your Token to the PancakeSwap Exchange. Therefore you can Select Tokens from the given option. Here you have to include your Contract Address instead of the Token name. Once included, you don't need to include it again as we you search your token easily through its name.
Now we are going to bring half amount of our newly created Tokens to the PancakeSwap. Here we need to remember that once we sent these tokens to the Exchange, we can't get them back to our personal wallet.
We have already introduced our Contract Address to the PancakeSwap Exchange. Therefore, we need to send the required amount of Tokens to our Contract Address. So, I will go to my MetaMask Wallet back and Select My token. After that, click on "Send".
Now we can send the required amount of our Token To the Public Exchange. Here I've selected 500k SCA Tokens for sending to our Contract Address. Then, we can click on "Next"
Finally, it shows the required gas fee and other transaction-related details. We can carefully check them and click on "Confirm"
If we had enough amount of BNB to pay the gas fee, we would be able to see that the transaction is completed.
Now we're pretty much done. If we want, we can search our Token through the PancakeSwap exchange. However, if we need to exchange our Tokens practically, we have to provide liquidity to our token. It's a highly costly process. Therefore, here I will not demonstrate it as we are learning these only for educational purposes in the Steemit Crypto Academy.
We have already installed Trust Wallet and created an account on it. Then we need to import our Token to the Trust Wallet too. Therefore I can use my Contract Address. Below I have demonstrated all the steps very clearly and shortly.
If you followed above mentioned all the steps properly, you can find your public address related to your Token. If someone wants to send us a token we must share this address.
Now I have the Public Key for sending the SCA Tokens. And also, I have 500k Tokens in my Metamask wallet. So, I can easily click on the "Send" icon through my MetaMask Wallet.
My Public Key - 0xC93684F2e1572B040CA858B48aAa77989fEBce15
After that, I can select the required Token amount and click on the "Next" icon. Here I've decided to send 100K SCA Tokens to my Trust Wallet.
Finally, we can check all the details according to our transaction. As I have a sufficient amount of BNB to pay the gas fee, I can easily click on the "Confirm" icon.
Now let's check our Trust Wallet.
Finally, we can verify the Transaction through the relevant Block explorer. Therefore, I need to find the transaction. For that, we have to click on the "Activity" icon through our MetaMask wallet.
After that, we can click on the "View Transaction" Button for each Transaction. Here I will demonstrate the last Transaction.
Then it will direct us to the BSC Scan site. So, we can find all the relevant details of our Transaction including Transaction Hash, From Address, To Address, Transaction Time and even Contract Address.
In my lesson, I have described only a summary of these topics and you should do better research and answer all the following questions in your own words. You are totally free to use any language. But when you mention something in the screenshots, you must use only English.
1- Define your idea of listing a Crypto token in a public Crypto Exchange and what its significance is.
2- Demonstrate how to prepare everything needed to list your newly created Crypto Token in a public exchange such as selecting an exchange and adding a few BNB coins to your MetaMask wallet to accomplish the gas fee. (If you already have some amount of BNB in your wallet, you don’t need to deposit again.)
3- Demonstrate all the steps of listing your own Crypto Token in a Public Crypto Exchange. (Screenshots required)
4- Demonstrate all the steps to bring half of your newly created Crypto Token into a Public Exchange (In addition to simply stating the steps, you should provide a clear explanation about each step)
5- Withdraw some of your own crypto Tokens into any other wallet such as Trust Wallet and MetaMask wallet. (Confirm the transaction through the relevant Block Explorer)
You must submit your Homework Posts in the Steemit Crypto Academy community.
You have to include all the details in your own words without including someone's words in your content. The concept can be the same but your content should be unique.
You must include at least 800 words in your homework posts.
Plagiarism is strictly prohibited in the whole Steemit platform and you will not receive any privileges.
All the screenshots and images should be fully referenced and the referenced images should be copyright-free. And also, include your user name as a watermark in every screenshot.
You should use tags #reddileep-s5week4 #cryptoacademy and your country tag among the first five tags. Furthermore, you can include relevant tags such as #crypto-exchange, #crypto-token.
According to new rules changes, only people actively, and successfully, participating in #club5050 will be eligible to get rewards for the Steemit Crypto Academy homework tasks.
Your homework Title should be [ How to list your own Token on a Public Exchange ]-Steemit Crypto Academy | S5W4 | Homework Post for @reddileep
Homework task will run from Sunday 00:00 December 5th to Saturday 11:59 pm December 11th UTC Time.
If you have a reputation of 65 or above, and a minimum SP of 900, then you are eligible to partake in this Task. (You should not have any power-down history during the past 30 days and your effective SP should not be delegated-in SP). And also, if you have used any buying vote services to build your reputation, you will not be eligible to partake in this Task.
If you didn't receive the score for your homework post within 48 hours, you can put the link in the comment section. Otherwise, don't leave your post link here.
If you have any queries related to my lesson, you are totally free to ask anything in the comment section.
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