Guide on Testing Token Generator
So far, we have tackled most of the common rugs. These includes -
Liquidity Removal Rug - The liquidity is automatically locked for 2 months (Mainnet) whenever a liquidity pair is created. This ensures that the liquidity remains locked at start, because 90% of the rugs happen within the first few hours. This also allows developers to save their fees on manual liquidity locking platforms.
Honeypot Rug - The same concept from LP removal applies here as well. A honeypot dev makes money by pulling the liquidity once he has scammed enough investors. But with automatic locked liquidity, the dev cannot pull the liquidity right away. Not a sure stop method to stop honeypots, but they wont lock up their own liquidity for 2 months just to make some extra $'s.
Token Dumping/Supply Rug - We have mentioned this before, but most projects rugs when they set aside a huge supply for themselves. Their reasons could vary, such as stacking or CEX listings etc. In our DEX, if the tokens supplied to the liquidity pool are less than 90%, the LP wont be created. We feel like 10% is a fair and big % if you are a legit project.
This is one of our latest feature that we developed in order to combat non-renounced contracts. We proposed several different methods, but all of them had some flaws in it. But this approach might be a good one to tackle non-renounced contract. There are two sections to our DEX now.
Anyone can launch their own custom contract on our DEX. All the security measures we specified for rugs, such as liquidity removal, honeypot (same as lp removal), and tokens dumping will be applied on those contract. However, we have no control over the contract so it might contain hidden functions or other stuff.
Or anyone can launch their own token through our token generator. The contract features automatic tax changes, and no hidden scam functions. Its easier to deploy, and with the additional benefits of other security measures, resulting in more trust buildup. This guide will show how easy it is to deploy through the generator.
Step 1: Set Up Metamask
Open the Metamask browser extension, click on the network dropdown menu in the top center of the Metamask window, and select "Goerli Testnet" from the available network options. If you don't see the Goerli Testnet option in the dropdown, follow the next steps.
If you don't have the Goerli network added to Metamask, you have two options:
Option 1: Enable Goerli Network in Metamask Settings
Click on the profile icon in the top right corner and select "Settings" from the dropdown menu.
In the Settings tab, scroll down to the "Networks" section.
Click on "Goerlie test network" under Test Networks to enable the testnet
Option 2: Add Goerli Network Using Chainlist
Visit https://chainlist.org/chain/5 in your web browser.
On the Goerli Testnet page, click on the "Add to Metamask" button.
Metamask will open and prompt you to confirm adding the Goerli network. Click on "Approve" to add the network.
After adding the Goerli network to Metamask, ensure that it is selected in the network dropdown menu.
You are now ready to use Metamask with the Goerli Testnet.
Step 2: Obtain goerliETH
Ensure that you have sufficient goerliETH tokens in your wallet to perform transactions on the Goerli Testnet.
If you need goerliETH tokens, refer to the next section where we mentioned several faucet options such as QuickNode, Alchemy, Coinbase, ENS, or PK910 Goerli Faucet. Follow the instructions provided by us to obtain goerliETH tokens.
Step 3: Deploying a Test Token Contract
Open a web browser and visit https://token.liquishield.exchange/.
Make sure you are on Goerli Network in your Metamask.
Connect your wallet by clicking on the "Connect Wallet" button at the top-right corner.
Fill in the details for your token, such as the token name, token symbol, and token supply.
Fill in the other details -
Marketing Wallet: The wallet where the marketing tax will be sent out to.
Development Wallet: Set default to the wallet connected.
Website: Specify the website of the token, if there is one.
Twitter: Specify the twitter handle, if there is one.
Telegram: Specify the telegram group, if there is one.
Initial Tax: Specify the initial tax for your token. It is divided into 3 categories - Marketing %, Development % and Liquidity Pool %. The total initial tax cannot be greater than 15%. For example if you specify 10 for Marketing, 5 for Development and 5 for LP, it will throw an error.
Final Tax: Specify the final tax for your token. It works the same as initial tax, however the final tax cannot be greater than 5%.
After filling all the details, click on "Create a Token" button, and a Metamask transaction will pop up. Make sure you have sufficient goETH and approve the transaction. The total transaction cost will be 0.1 eth + fee for deploying the token. The 0.1 Eth fee is charged for every token deployed through the generator.
Wait for the transaction to be mined, and if successful, the contract will be deployed and the information for address will be displayed.
Step 4: Adding Liquidity
After the token is deployed, you can click on "Add Liquidity on LiquiShield" button, or visit the following link to create a liquidity pool.
Click on "Add Liquidity" button. Select the tokens you want to add to the liquidity pool. One can be ETH, and in token field, import the test token by pasting the address from the generator.
Supply enough tokens and eth to create the liquidity pool. For example, the token supply should be atleast 90% and any amount of Eth. Click on Approve, and approve the transaction.
Wait until the approve transaction is done. After that, click on Supply and create a liquidity pool.
Step 5: Executing Functions
Now that liquidity has been added, you can execute functions straight from the Etherscan or copy the source code and paste it into Remix IDE.
In this guide, we will use Etherscan. Copy the address of the contract, and paste it in the search bar of Etherscan. Click on the "Contract" button, and then "Write Contract".
These are all the functions that you can execute on the contract. In this guide, you only have to execute a few functions. First, connect your wallet to the Etherscan by clicking on "Connect to Web3" button.
After connecting the wallet, click on enableTrading function. Click on the "write" button to execute this function on the contract. This function, as the name implies, enable the trading after liquidity is added. A metamask transaction will pop up, and click to confirm that transaction.
Wait till the transaction is completed. After executing this function, you will be able to trade the token on the testnet. It will start with initial taxes for the first 30 mins, and then later changed to final taxes automatically. So make sure to set slippage correctly, considering both Price Impact + Tax Slippage.
Since the contract starts with limits applied at start, you can only buy 2% max per transaction, and 2% max per wallet. In order to remove the restrictions, you have to execute the function "removeLimits". After executing the remove limits function, you can also execute renounceOwnership function to renounce the contract for trust and transparency.
In Read Contract section, you can check all the details such as initial tax, final tax, twitter, telegram, website. All functions that basically displays the data.
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