In this article we are going to look at all the things that need doing when launching a new token to create a token deployment checklist for developers and founders. At the end there is a big list of all the token listing sites that you can submit your new token to.
- Unit Tests & Testnet Deployment
- Security Audit & Bug Bounty
- Deploying To Mainnet
- Verify On Etherscan
- Liquidity Pools & Exchanges
- Announce Across Socials
- Submit To Listing Sites
Unit Tests & Testnet Deployment
Unit tests can be written in Hardhat or Foundry and serve as a way to test each contract function individually.
Once the contract is finalised a testnet deployment allows devs to do a dress rehearsal of the actual mainnet deployment without risking any real funds.
Security Audit & Bug Bounty
A security audit is highly recommended where users funds are at risk and there is any code which deviates from commonly used standard libraries. More information about auditors here: https://jamesbachini.com/smart-contract-auditors/
A bug bounty serves as a last line of defence incentivising white hat hackers to submit issues and get rewarded. The two leading platforms for this in web3 are immunefi and code4rena.
Deploying To Mainnet
You’ll need some of the native token in a secure wallet to deploy the contracts. This can get expensive and cost fluctuates based on network congestion.
A simple token contract can be deployed using https://remix.ethereum.org while more complex projects should have a thoroughly tested deployment script.
Verify On Etherscan
This step does two things, it enables you to interact with the token functions from Etherscan and it also publishes the code in human readable format.
You’ll need an Etherscan API key, free just need to sign up, and then you can either verify the contract on the site or I would recommend using a plugin. Remix, Hardhat & Foundry all have Etherscan verification plugins which makes life easy.
Liquidity Pools & Exchanges
If you want users to be able to buy and sell your token then you need to either create a liquidity pool on a DEX like Uniswap or list on an exchange like Kucoin and work with market makers to create liquidity.
Uniswap v3 introduced concentrated liquidity which gives developers a lot of options and flexibility in setting up pools. It’s possible to setup one sided pools for example which allow for the token to be purchased without devs contributing a base asset in ETH or USDC.
Beware of scammers posing as listing agents for centralized exchanges. Always contact the exchange directly and get a quote and terms for listing.
Announce Across Socials
Once deployed it’s time to tell the world about your token and what better way than across the socials.
- YouTube
- Discord
- Telegram
- Newsletter
Ideally you should have tested your idea by building a community first. Twitter YouTube & Insta act as a top of funnel discovery platforms, Discord and Telegram are widely used to update and connect with the community, a newsletter is a great way to develop leads and educate users.
Submit To Listing Sites
There are various websites which list tokens and on-chain information which you should submit your new token to. Here is a list of sites, scroll to the bottom and find “new listing” and fill in a form for each.
Coinmarketcap, Coingecko & DexTools are the three real big ones and avoid any of the smaller sites if they try to charge you for listing.
- https://coinmarketcap.com
- https://coingecko.com
- https://www.dextools.io
- https://coinranking.com
- https://cryptoslate.com
- https://www.livecoinwatch.com
- https://coinsniper.net
- https://coinhunt.cc
- https://coincodex.com
- https://top100token.com
- https://www.coinscope.co
- https://coinmooner.com
- https://www.rugfreecoins.com
- https://coinboom.net
- https://coinvote.cc
- https://www.freshcoins.io
- https://icodrops.com – applicable to tokens doing a public sale
- https://defillama.com – applicable to defi protocols
