It's obvious to most people that the meme season on Solana is heating up, with meme coins like Bonk, WIF, and Wen leading the entire cryptocurrency meme season. Under this heat, countless memes are created and enter the exchange every day. It is understood that 122 million US dollars of Solana tokens were raised in the so-called presale before the new coin issuance.
How are these meme coins created? Is it very low cost to issue a meme coin? After actual calculation, it costs as little as 0.5 SOL to create a meme coin using the well-known coin issuance platform PandaTool, and after they enter the trading market, they can easily take away dozens of SOL, which is also the reason for the frenzy of meme coins. Next, let's calculate the cost of issuing coins on the Solana chain.
1. Token creation fee: 0.3 SOL (mandatory)
First, you need to use PandaTool to create a token contract, and the cost of this process is 0.3 SOL. Of course, can you do it without a one-click coin issuance tool? Yes, but it's very troublesome. Unlike Ethereum, Solana cannot deploy contracts using Remix, it can only be completed with the help of third-party tools, so this cost is necessary and cannot be omitted.
2. Logo upload fee: 0.1 SOL (mandatory)
Experienced people know that although the token contract has been created, the coin has no logo or name. Therefore, we need to upload metadata to the chain. This data includes the token's name, description, logo image, social media, etc., and is the face of a token project. This data is stored on decentralized platforms, so a certain storage fee is required, making this 0.1 SOL also mandatory.
3. OpenBook ID creation fee: 0.55~3 SOL (optional)
After creating the token and uploading the logo, you can create pools on some DEX. If you choose to create an AMM liquidity pool on Raydium, you will need something called an OpenBook Market ID. The creation cost of this ID is approximately between 0.55 SOL and 3 SOL, depending on your needs. If you are not creating liquidity on Raydium, such as creating pools on Orca or Meteora, this cost is not required. Therefore, this is not a mandatory option.
4. Pool addition fee: 0.5 SOL (mandatory)
As mentioned earlier, if you create liquidity on Orca, you do not need to pay the OpenBook ID creation fee, but you still need to pay a fee to create a pool, which is approximately 0.5 SOL (including rent, LP account, protocol fees, etc.). Whether it's Raydium or Orca, whether you have an ID or not, it cannot be omitted. Therefore, this is a mandatory expense.
5. Data update fee: 0.1 SOL (optional)
Data update is a unique feature of the Solana chain. In simple terms, after creating a token contract, users can still modify the token's name, logo, description, and add or remove social media links. If you need to update the data, you will have to pay this fee. If not, you don't have to pay. Therefore, this is not a mandatory option.
6. Others: marketing fees, pool funds, airdrop fees, etc.
In addition to the above-mentioned issuance costs, some subsequent investments are also required. For example, the amount of SOL you put into the pool is your investment. Also, after trading starts, there are costs for marketing activities, creating official websites, etc. These costs will vary depending on the actual situation of each project and cannot be accurately assessed.
But overall, the total cost required to develop a meme coin on Solana is: 0.3 SOL for issuance, 0.1 SOL for logo upload, and 0.5 SOL for pool addition, plus some gas fees, totaling at least around 1 SOL.
The relatively low issuance cost and threshold are also significant factors driving the heating up of the meme season, and coin issuance platforms represented by PandaTool may play a greater role in the future.
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