Launching a token

Launching is two transactions. Together they cost gas and nothing else — there is no listing fee, and the platform is paid out of trading fees, which arrive only if the launch turns out to be worth trading.

The two transactions

• The first creates your token. It exists from this point but cannot be traded yet, because the whole supply is still waiting to go into the pool.
• The second opens the pool and puts the entire supply in, then locks that liquidity permanently. Your token is live and tradable the moment this confirms.

They are separate because doing both at once is too large to fit in a fast block on HyperEVM — combining them would make every launch wait around a minute instead of a second.

If your second transaction fails, or you close the tab before it goes through, the launch is not lost. Anyone can complete it, and whoever does gets nothing for doing so — your token page will offer the button.

What the launch decides

Only the last of those can be changed, and only by handing the whole role to somebody else. Everything else is written into the token when it is created and has no way to be edited afterwards — whatever you upload is what the token carries for the rest of its life.

Picking the backing asset

The backing asset is what your token is priced in and what accumulates in the pool as people buy. It is the most consequential choice on the form, because it decides what “the price went up” even means. A HYPE-backed token holding its price in HYPE still moves in dollars whenever HYPE does, whether or not anybody trades it.

Each asset has its own opening figure, and it is a quantity of that asset — 49.42 HYPE, or 0.86 XAUm. The launch form shows you the exact figure for whatever you pick, before you sign.

The first buy

There is no protected opening. The moment your pool goes live it is open to whoever gets there first — including bots watching for exactly this. You get no head start as the creator, and neither does anybody else.

Preventing that would mean restricting who is allowed to trade your token, which is the same shape as a honeypot — a token people can buy but not sell. So it is not done.

The “first buy” amount on the launch form is therefore not part of either transaction. It simply carries through to your token's page, where it becomes an ordinary buy like anybody else's.

The picture and the description

Your picture and description are stored on IPFS, and the token itself carries a permanent link to them. Pictures are resized and compressed before upload, so a photo straight off a phone is fine.

Both are optional. A launch with nothing but a name and a symbol is a perfectly valid launch — it just gets a generated mark in place of a picture.

What will stop your launch

• An empty name or symbol, a name over 64 characters, or a symbol over 16.
• A backing asset that is no longer available for new launches.
• Somebody having opened your token's pool first at their own price. Your launch stops rather than going in — see How a pool launch works.