Guide on Testing Token Supply Feature
Last updated
Last updated
In order to test the token dumping feature, you have to repeat most of the steps from the previous guide.
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
If you already have your own token contract on the Goerli Testnet, you can skip to the next step. Otherwise, follow these steps to deploy a test token contract using the token generator:
Open a web browser and visit https://www.smartcontracts.tools/token-generator/create/ethereum/.
On the token generator page, select "Goerli - Testnet" as the network for token deployment.
Fill in the details for your token, such as the token name, token symbol, and token supply.
Click on the "Next" button to proceed.
In the billing section, click on "Skip" as this is a free service.
Finally, click on the "Create Token" button to initiate the transaction for deploying your test token contract.
Alternatively, if you already have your own token contract, you can deploy that contract on the Goerli Testnet instead of using the token generator. Make sure you have the necessary contract code and follow the appropriate steps to deploy your custom token contract on the Goerli Testnet.
Note - We want to clarify that our project, LiquiShield, is not associated with "SmartContract.tools". The token generator provided in the tutorial is recommended specifically for deploying test token contracts on the Goerli Testnet.
Step 4: Testing the Token Supply Feature
Open a web browser and visit https://testnet.liquishield.exchange/.
On the LiquiShield DEX application, click on the "Pool" tab in the navigation menu.
Click on the "Create Pair" button to initiate the process of creating a new liquidity pool.
Select the tokens you want to add to the liquidity pool. For example, you can choose WETH (Wrapped Ether) and the token you generated earlier using the token generator.
Enter the amount of tokens you wish to add to the liquidity pool.
After confirming the token selection and the amount, click on the "Approve" button to approve the transaction for adding liquidity to the pool. Metamask will open, and you need to confirm and sign the transaction.
Once the transaction is approved and confirmed, click on the "Supply" button to supply the selected tokens to the liquidity pool.
Now, if the tokens supplied to the pool are less than 90% of the total supply, the transaction will not go through and an error message will be thrown in the console. Check the image below where we try to add about 80% of the token supply, and transaction does not go through.
But if the token supplied are 90% or more of the token supply, Metamask will open again for you to confirm and sign the supply transaction.
After confirming the transaction, the liquidity pool creation process will begin.
Wait for the transaction to be confirmed on the Goerli Testnet. You can track the status of the transaction using the provided transaction link or a block explorer like Etherscan.
Once the transaction is confirmed, your liquidity pool will be successfully created, and the tokens will be added to the pool.
