This article will introduce how to create an OpenBook market ID using the tools on the GTokenTool platform. GTokenTool is the platform with the lowest fees for issuing tokens online.

Preparation work

  1. Ensure you have a Solana wallet: A wallet that supports Solana (such as Phantom or Solflare) is needed, and make sure there is enough SOL in the wallet to cover transaction fees (at least 0.5 SOL is recommended).

  2. Visit the GTokenTool platform.

  3. Link wallet: After entering the page, click on connect wallet, select your Solana wallet and authorize.

Steps to create an OpenBook market ID

1. Go to the create market page:

In the left menu bar of the GTokenTool website, find Liquidity Management and click Create Market.

The page will guide you to the OpenBook market ID creation interface.

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2. Fill in market parameters:

  • Base Token: Enter the contract address of the token you created (a custom token without value).

  • Quote Token: Choose a token with market value, typically SOL or USDC.

  • Minimum Order Size: Set the minimum trading unit for the market, and it is recommended to set it reasonably according to the token value.

  • Tick Size: Define the minimum price movement unit, which affects market price accuracy.

  • Fee settings: Choose an appropriate trading fee level (OpenBook default may be 0.25%, keep it default if unsure).

  • After confirming all parameters are correct, check if the wallet balance is sufficient to pay for transaction fees.

3. Create Market ID:

  • Click the Create Now button, and a wallet signature prompt will pop up.

  • Use your Solana wallet (like Phantom) to confirm the transaction, which may require two signatures (one for creating the market ID and one for confirmation).

  • After the transaction is complete, the platform will display the generated OpenBook market ID. Please copy and save it locally; this ID is the unique identifier for your trading pair on OpenBook DEX.

4. Verify Market ID:

  • You can verify the market ID using the market ID query tool on GTokenTool.

  • Enter the token contract address and the corresponding quote token, and confirm whether the market ID is valid.

Notes

  • Funding requirement: Ensure your wallet has enough SOL (at least 0.5 SOL for creating the market ID and any potential liquidity addition later).

  • Permission management: By default, the blacklist permission will not be relinquished when creating the market ID. Ensure you understand the token's permission settings (if adjustments are needed, they can be made in the token management feature of GTokenTool).

  • Transaction confirmation: Multiple wallet signatures may be required during the creation process. Be sure to confirm in a timely manner to avoid transaction failure.

  • Next steps: After creating the market ID, you may need to add liquidity to enable trading. You can add base tokens and quote tokens to the pool using the Create Pool feature of GTokenTool.

Frequently Asked Questions

  • What is the purpose of the market ID?

The OpenBook market ID is the unique identifier for trading pairs on the OpenBook DEX on the Solana blockchain, used to locate specific trading pairs (like SOL/USDC).

  • What to do if creation fails?

    Check if your wallet balance is sufficient, ensure the network is switched to Solana mainnet, and contact GTokenTool official support if necessary.

  • Are the fees high?

    Solana transaction fees are extremely low, typically only 0.000005 SOL per transaction, and the cost of creating a market ID is also low.


By following the above steps, you can quickly create an OpenBook market ID using GTokenTool and prepare for subsequent token trading and liquidity management.