Creating a token

Creating your own token (100x coin lets say) requires understanding the Token Program that is written by the engineers at Solana - https://github.com/solana-labs/solana-program-library

Specifically, the way to create a token requires you to

1. Create a token mint
2. Create an associated token account for this mint and for a specific user
3. Mint tokens to that user.

Token mint

It’s like a bank that has the athority to create more coins. It can also have the authority to freeze coins.

Associated token account

Before you can ask other people to send you a token, you need to create an associated token account for that token and your public key

Reference - https://spl.solana.com/token

• Create a new cli wallet

  solana-keygen new

• Set the RPC url

  solana config set --url https://api.devnet.solana.com

• Airdrop yourself some SOL

   solana airdrop 1

• Check your balance

  solana balance

• Create token mint

  spl-token create-token

  

• Verify token mint on chain

  

  

  • Check the token on solana fm https://solana.fm/address/ChNkv9iW5pZJ1YAsNswC2CrdMUkFJBUbRWinjdLvKpXA/transactions?cluster=devnet-solana

  • Use the getAccountInfo to see the data and lamports in the account

    

• Check the supply of the token

  spl-token supply AQoKYV7tYpTrFZN6P5oUufbQKAUr9mNYGe1TTJC9wajM

• Create an associated token account

  spl-token create-account ChNkv9iW5pZJ1YAsNswC2CrdMUkFJBUbRWinjdLvKpXA

  

• Mint some tokens to yourself

  spl-token mint  ChNkv9iW5pZJ1YAsNswC2CrdMUkFJBUbRWinjdLvKpXA 100

• Check your balances in the explorer

  

• Import the token in Phantom and see the balances