Create OpenBook Market
Creating an OpenBook Market involves establishing a new trading pair (market) on the OpenBook decentralized exchange (DEX), which is a fork or evolution of Serum, operating on the Solana blockchain. An OpenBook market allows users to trade between two tokens via a central limit order book (CLOB), where orders are matched based on price and priority.
How to use Create OpenBook Market tool?
Navigate to the TokenJungle Tools Page
Go to the TokenJungle Tools page.
Select “Create OpenBook Market” from the navigation menu or the list of tools.
Connect Your Wallet
Click the "Connect Wallet" button at the top-right corner of the screen and Connect your web wallet.
Select Your Base Token
Enter your token’s contract address or choose a token from your wallet by clicking "Select from Wallet."
Enter Minimum Order Size and Tick Size
Minimum Order Size (Minimum Buy): Enter the desired minimum order size for your token.
Tick Size (Minimum Price Change): Enter the desired tick size for your token.
If you’re unsure of the values to provide, use the table below as guidance:
Token Supply
Min Order Size
Tick Size
100K
0.01
0.0001
1M
0.1
0.00001
10M
1
0.000001
100M
10
0.0000001
1B
100
0.00000001
10B
1000
0.000000001
100B
10000
0.0000000001
Note: These settings are suggestions. Always perform your own research to ensure the values fit your strategy.
Choose Advanced OpenBook Market Options
Adjust advanced settings if necessary.
Important: Do not change these settings unless you fully understand how OpenBook works.
Submit the Form Click “Create” and confirm the transaction in your web wallet. After confirming all required transactions, your OpenBook market ID will be generated and displayed below the form, along with a link to SolScan.
Track Your Order Your order will process immediately. You can track its details on the "Order History" page.
Create OpenBook Market FAQ
What is Create OpenBook Market Tool?
The Create OpenBook Market tool allows anyone, even without coding experience, to set up a market (a token pair on the Solana blockchain). This market can later be used to create a liquidity pool.
What are the Base Token and Quote Token?
The Base Token is the token you minted.
The Quote Token is automatically set as SOL.
Will my token be tradable immediately after creating an OpenBook Market?
No, your token will not be instantly tradable. You will need to add liquidity first. You can do this using the Manage Liquidity tool.
What are Minimum Order Size and Minimum Tick Size?
Minimum Order Size: The smallest amount of your token that someone can purchase in a single transaction.
Minimum Tick Size: The smallest allowable price change for your token.
If you're unsure what values to use, refer to the table below:
Token Supply
Min Order Size
Tick Size
100K
0.01
0.0001
1M
0.1
0.00001
10M
1
0.000001
100M
10
0.0000001
1B
100
0.00000001
10B
1000
0.000000001
100B
10000
0.0000000001
What issues might I face with a cheaper OpenBook Market ID?
Using a cheaper OpenBook Market ID can save costs—potentially 5 times less than usual. However, this comes with some risks:
Performance Under Heavy Use:
Cheaper markets may struggle with high transaction volumes.
For tokens with significant activity or a high market cap (e.g., $500,000 or more), errors may occur when processing transactions.
Project Type Consideration:
For serious projects, such as utility tokens or long-term ventures, it's advisable to invest in an "optimal" market.
For simpler projects a cheaper market may suffice if managed properly.
Microtransaction Issues:
Cheaper markets are more susceptible to issues with microtransactions, which can take up space and slow down the system.
To mitigate this, set a larger-than-usual minimum order size to reduce the number of small transactions.
Risk of Cheaper OpenBook market:
A portion of transactions might fail due to market limitations, particularly under high activity.
Summary: While a cheaper OpenBook Market ID can work for smaller projects or low activity tokens, investing in an "optimal" market is strongly recommended for larger or more serious ventures.
Where can I find information about my order? Details about your order can always be found on the “Order History” page. Please note that the Order History link in the menu will only appear after you connect your wallet.
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