Cryptocurrency has become increasingly popular in recent years, and with its rise comes a multitude of new blockchain projects. These projects need a platform where they can list their coins or tokens to gain exposure and liquidity.
One such platform is Pancake Swap, a decentralized exchange (DEX) built on the Binance Smart Chain. Pancake Swap has quickly gained popularity among investors and traders alike due to its ease of use and low fees.
In this blog post, we’ll provide a step-by-step guide on how to list a coin or token on Pancake Swap.
First, let’s discuss what Pancake Swap is and why it’s important for cryptocurrency projects to list their coins/tokens on it.
Related: Differences and Similarities Between Cryptocurrency Tokens and Coins
What is Pancake Swap & Why is it Important?
Pancake Swap is a decentralized exchange (DEX) built on the Binance Smart Chain, which allows users to trade various cryptocurrencies with low fees and fast transaction times. It’s become a popular platform for investors and traders due to its ease of use and wide variety of trading pairs.
Listing a coin or token on Pancake Swap can provide many benefits to blockchain projects, including increased liquidity and exposure.
Since Pancake Swap is a decentralized exchange, anyone can list their coin or token on it without having to go through a centralized authority. This means that small projects with limited resources can still gain exposure and liquidity, helping them to grow and develop.
Preparing for the Pancake Swap Listing
Before listing your coin or token on Pancake Swap, there are several things you need to do to prepare. Let’s go through them step by step.
The first requirement for listing on Pancake Swap is to have a certain level of liquidity. This means that there must be enough buyers and sellers for your coin or token to trade at a fair price.
To achieve this, you’ll need to create a liquidity pool. A liquidity pool is a pool of funds that traders can use to buy and sell your coin or token. The more funds in the pool, the more liquidity your coin or token will have.
The second requirement for listing on Pancake Swap is to have a verified contract. A verified contract ensures that your coin or token is legitimate and has not been compromised by hackers.
To get your contract verified, you’ll need to use a service like CertiK or Solidity Finance. These services will audit your contract and verify that it’s safe to use.
While you’re getting your contract verified, you should also consider optimizing it. This means ensuring the contract is well-written and efficient so that it runs smoothly and doesn’t use too much gas.
Gas is the fee that users pay to execute transactions on the Binance Smart Chain. The less gas your contract uses, the cheaper it will be for users to trade your coin or token.
Read more: What do Gas Fees mean in Blockchain?
Creating the Listing on Pancake Swap
Once you’ve prepared the listing, it’s time to create it. Here are the steps you need to follow:
Connect your Wallet
The first step is to connect your wallet to Pancake Swap. You can do this by clicking on the “Connect” button in the top right corner of the website and selecting your preferred wallet provider. Pancake Swap supports several popular wallets, including MetaMask and Trust Wallet.
Related: Hot Wallet vs Cold Wallet in Cryptocurrency
Create the Liquidity Pool
The next step is to create the liquidity pool. To do this, click on “Trade” in the top menu and select “Add Liquidity”. You’ll need to select the trading pair you want to create the liquidity pool for and input the amount of each token you want to contribute.
Pancake Swap will automatically calculate the exchange rate and the number of liquidity tokens you’ll receive in return. Liquidity tokens are tokens that represent your share of the liquidity pool.
Add Token Details
After you’ve created the liquidity pool, it’s time to add your token details. Click on “Create a Pair” on the main page and select your token from the list. Then, input the token symbol, name, and the number of decimal places.
You’ll also need to upload the token logo, which should be in PNG format with a resolution of at least 512×512 pixels.
Set the Trading Pair
Next, you’ll need to set the trading pair. Click on “Trade” in the top menu and select “Trade”. Then, select your token from the list and choose the trading pair you want to set it against.
For example, if your token is called ABC, you could choose to set it against BNB or BUSD. You can also choose to create a new trading pair if the one you want doesn’t already exist.
Set the Token Price
After you’ve set the trading pair, it’s time to set the token price. You can do this by adjusting the price slider on the trading page. Be sure to set a competitive price that will attract buyers and sellers. You can also adjust the price range to limit the price movement of your token.
Provide Token Information
Finally, it’s important to provide clear and concise information about your token. This includes the total supply, the contract address, and any other relevant details about the token.
You can do this by clicking on the “Info” button next to your token on the trading page. Be sure to include all the necessary information so that investors and traders can make informed decisions.
Read: All You Need To Know About Cryptocurrency
Promoting the Listing
Promoting the listing of your coin or token on Pancake Swap is crucial for attracting investors and traders. While listing your coin or token on Pancake Swap provides a platform for exposure and liquidity, many other projects are listed on the platform, and it can be challenging to stand out from the crowd.
Promoting your listing increases your visibility and can help you gain more investors and traders. Here are some reasons why promoting your listing is essential:
- Increase Visibility
Promoting your listing can increase your visibility and attract more potential investors and traders to your project. When you announce your listing on social media platforms, forums, or other marketing channels, you’re putting your project in front of a larger audience. This increased visibility can lead to more interest in your project and more people investing in it.
- Build Community
Promoting your listing can also help you build a community around your project. When people invest in your project, they become stakeholders and supporters of your project’s success. By engaging with your community and offering incentives like airdrops or giveaways, you can build a loyal following that can help spread the word about your project.
- Generate Buzz
Promoting your listing can also generate buzz and excitement around your project. When people see that your project is gaining traction and attracting investors, it can create a sense of urgency and excitement. This buzz can lead to more people investing in your project and can help it gain momentum.
- Establish Credibility
Promoting your listing can also help establish credibility for your project. When people see that your project is actively promoting its listing and engaging with its community, it can create a sense of trust and credibility. This can make people more likely to invest in your project, as they see that you’re serious about its success.
Here are some tips on how to promote the listing of your coin or token on Pancake Swap:
Social media is a great way to promote your listing. You can use platforms like Twitter, Telegram, and Discord to announce your listing and engage with your community.
Be sure to post regular updates and provide useful information about your project. You can also offer incentives like airdrops and giveaways to encourage people to invest in your coin or token.
Influencers can also help you promote your listing. Look for influencers in the cryptocurrency space who have a large following and a good reputation. Reach out to them and ask if they’re willing to promote your coin or token. Be prepared to offer them a reward or incentive for their help.
Marketing is an important part of promoting your listing. You can use various marketing channels like email marketing, paid advertising, and content marketing to reach potential investors and traders. Be sure to create high-quality content that provides value to your audience.
Listing your coin or token on Pancake Swap can provide many benefits, including increased liquidity and exposure.
To list your coin or token, you’ll need to create a liquidity pool, get your contract verified, and optimize your contract. Then, you can create the listing by setting the trading pair, defining the token details, and providing clear and concise information about your token.
Finally, to attract investors and traders, you’ll need to promote your listing using social media, influencers, and marketing channels.
With these steps, you’ll be well on your way to listing your coin or token on Pancake Swap and gaining the exposure and liquidity your project needs to succeed in the cryptocurrency space.
Before you go…
Hey, thank you for reading this blog to the end. I hope it was helpful. Let me tell you a little bit about Nicholas Idoko Technologies. We help businesses and companies build an online presence by developing web, mobile, desktop, and blockchain applications.
We also help aspiring software developers and programmers learn the skills they need to have a successful career. Take your first step to becoming a programming boss by joining our Learn To Code academy today!
Be sure to contact us if you need more information or have any questions! We are readily available.