#3 OpenBook Market

One of the most critical steps after we have made the contract is to create the OpenBook Market on one of Solana’s DEXs (Decentralized Exchanges) so that the Token can be traded.

An OpenBook Market is a “token pair” stored on the Solana Blockchain, which allows us to add liquidity so that people can trade these tokens on the DEX.

Without this step, we cannot add liquidity; without it, our tokens cannot be traded.

This process costs around 2.8 SOL, so it must be done cautiously. This value will be lost if we do not carry out the entire process carefully.

The DEX chosen to create the OpenBook Market was Raydium, one of Solana’s leading decentralized platforms.

https://raydium.io/create-market

To avoid making mistakes in the steps, I followed this video tutorial that explains the process very well:

https://www.youtube.com/watch?v=xNg1NtKga88

I could not complete the payment for 2.8 SOL in the first few attempts, as the blockchain was overloaded. I had to try several times before successfully creating my OpenBook Market.

At this stage, the work points were:

OpenBook Market ID at Raydium

It took me about three hours to prepare all of this.

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