How to Make a Meme Coin: A Step-by-Step Guide
Meme coins have the ability to create overnight millionaires, to latch onto niche popular culture moments and make them relevant, and to give the inspired individual the power to launch decentralized financial (DeFi) technologies (of sorts) from their bedrooms (or basements).
Want to ride this trend to the very end? BONKbot is here to hold your hand through the process, from start to finish, taking your concept and turning it into the most shill-able coins of all time… or, at least a reputable meme coin with some intrinsic value.
Wen meme coin? Now.
Step 1: Start with a Vision
Your meme coin’s vision is its foundation. Without a clear purpose in mind, you’re not ready to dive into the technical aspects of coin creation.
A vision matters because it guides your decision-making, keeps your project focused, and sets it apart from the thousands of other meme coins in the market. With a compelling vision, you can attract like-minded individuals and build a dedicated community.
You might want to start by picking a catchy, trendy, or relatable theme that resonates with your target audience. Look at popular culture, niche interests, and ask others what they think will be unique enough to stand out in this noisy and crowded sector.
Part of your vision is setting realistic goals for your meme coin. That could mean establishing metrics for the community growth, coin performance, or opportunities it may bring. Keeping them achievable will keep you on track, and being transparent about these goals will not only maintain trust and engagement with your community, but will help you manifest success.
Step 2: Choose a Blockchain
You need to make sure you choose the right blockchain for your memecoin, as this impacts fees, scalability, UX, and even who will be willing to join your community.
Recommended Meme Coin Blockchains
Solana (SOL):
Known for its high scalability and low transaction fees
Uses proof-of-history consensus mechanism
Growing ecosystem with increasing adoption
Alternative Meme Coin Supported Blockchains
Ethereum (ETH):
Widely used and boasts a huge developer community
Supports smart contracts and decentralized applications (dApps)
Higher transaction fees compared to other options
Binance Smart Chain (BSC):
Compatible with Ethereum Virtual Machine (EVM)
Lower transaction fees and faster block times than Ethereum
Gaining popularity among meme coin developers
Polygon (MATIC):
An Ethereum sidechain that offers fast and cheap transactions
Provides interoperability with other blockchains
Gaining traction in the NFT and gaming space
While we recommend Solana, others may vouch for the lower entry point and supportive community of BSC. Some may argue that the security and development tools of Ethereum make it superior. We believe that Solana’s high scalability and established meme coin dominance make it a great place for first-time memecoiners to launch their projects. That’s the same reason the best meme coin launchers are also built on Solana.
Ultimately, choose the chain that works best for you and your team, based on your goals and experience.
Step 3: Develop a Tokenomics Model
A well-designed tokenomics* model is crucial for the long-term success and growth of your meme coin.
*Tokenomics might be a new word for some readers. Don’t worry, this is crypto-native jargon, and simply refers to the economic principles and mechanisms of a cryptocurrency. Token supply distribution, allocation, incentives - these are all part of tokenomics.
Reputable blockchain experts may assess your meme coin tokenomics and report back to the community. If they’re pleased with what they find, it can really encourage user adoption. If they think your coin is designed poorly, they might alert others and FUD (fear, uncertainty, doubt) you into failure.
Here’s what you need to define:
Supply & Allocation: Fixed supply or inflationary? How many tokens will the team, investors, advisors, and community receive? Will you allocate a portion of tokens to marketing, development, and future plans? Will you airdrop tokens or encourage liquidity mining?
Incentives: Staking mechanisms for lockups? Burn mechanisms to reduce circulating supply and potentially increase value? Questing rewards? Referral scheme?
Deciding on these things is mission critical. Don’t leave it too late.
Step 4: Create a Website and Whitepaper
A professional website and whitepaper (or lightpaper) build trust with potential investors or community members.
Your website doesn’t need to be complicated, expensive, or flashy, but it does need to:
Clearly communicate your meme coin’s vision, purpose, and value proposition
Include details about tokenomics, roadmap, project updates, and team members (even if anonymous, share your alias and social media accounts - especially X)
Show how to join your community (X, Telegram, Discord etc)
Be mobile friendly and fast
Your whitepaper (or lightpaper) should:
Serve as the in-depth guide to your project, detailing all technical aspects, as well as governance and tokenomics
Break down complexities into easily understandable ideas
Provide transparency about the plans, roadmap, and goals
Let’s move on to design.
Step 5: Design the Meme Coin
Next, it's time to dive into the technical aspects of creating your meme coin.
Let’s look at smart contracts:
Smart contracts are self-executing contracts with the terms directly written into code
They define the rules and functionalities of your meme coin
Depending on the blockchain you chose, you'll need to write smart contracts using specific programming languages like Solidity (for Ethereum) or Rust (for Solana)
You will have to define functions for token transfer, minting, burning, and any additional features your meme coin may have
Next, you’ll need to thoroughly test your smart contracts to identify any bugs or vulnerabilities before deploying. You can use tools like Hardhat, or Truffle Suite to automate the testing process. You should run both unit tests (individual functions) and integration tests (interactions between components) and then have experienced developers review your code and provide feedback.
Tools to explore:
Remix IDE is a popular web-based tool for writing and deploying Solidity smart contracts
Pump.fun offers a user-friendly interface to create and deploy tokens without coding
Brownie is a Python-based framework that automates deployment management
Step 6: Conduct a Smart Contract Audit
Auditing smart contracts is a crucial step in ensuring the security and reliability of your meme coin. Fail to do this, and any vulnerability in your code may later be exposed, damaging all trust and community you’ve accumulated.
Importance of Audits:
Audits invite third-party security experts to review your smart contract code and identify potential vulnerabilities or exploits
They help minimize the risk of hacks or attacks that could lead to loss of funds and reputation damage
Conducting audits shows your meme coin project's commitment to transparency and best practices
Audit Process:
Hire a reputable auditing firm specializing in smart contract security
Provide them with your smart contract code, documentation, and any relevant context about your meme coin
They will conduct a thorough review using a combination of manual analysis and automated testing tools
Finally, they will provide you with a detailed report outlining any issues found, along with recommendations for fixing them
Popular Auditing Firms:
CertiK - Known for their work with major projects like Binance Smart Chain, CertiK offers comprehensive smart contract auditing services
Hacken - This cybersecurity firm provides audits using both manual and automated testing methods to identify possible vulnerabilities
OpenZeppelin - Focused on security, OpenZeppelin offers audits as well as modular smart contract libraries to help developers build secure dApps
After the audit is complete, regardless of the results, you should publish it. Be transparent about any issues found and what you’re doing to fix them. This transparency builds trust and credibility.
Repeat this process once you believe you’ve solved the problems.
Step 7: Set Up a Wallet
Setting up a wallet for your meme coin is a necessary part of the process, as it allows users to store, send, and receive your tokens securely.
Ensure that your meme coin is compatible with popular crypto wallets like MetaMask (for Ethereum-based tokens), Phantom (for Solana meme coins) or Trust Wallet (supports multiple blockchains). This involves integrating your token contract address into these wallets so users can easily add and manage their holdings.
MetaMask Guide:
Open MetaMask and click "Add Token"
Select "Custom Token" and enter your meme coin's contract address
Click "Next" then "Add Token" to see your balance
Step 8: Test and Audit Everything
This is not the same as conducting a smart contract audit. This is about battle testing all aspects of the project to identify any potential issues and ensure a smooth user experience.
This could mean:
Comprehensive testing of wallet integration across different devices and browsers
Verifying that token distribution mechanisms (e.g., airdrops, liquidity mining) function as intended
Checking all features work, including buying/selling tokens, viewing balances, and accessing resources
Gathering feedback from beta testers in the community to identify any pain points or confusion
Some projects choose to launch on Blockchain Testnets:
Testnets simulate real-world scenarios without risking any mainnet funds - Ethereum offers Goerli (Ropsten is no longer active), while BSC has its own testnet
Deploy your smart contracts, run through common user flows, and identify and fix any bugs before deploying to mainnet
In addition to smart contract audits (covered in Step 6), have security professionals review the frontend and backend codebase to check for vulnerabilities, data leaks, poor access controls. You can also implement multi-signature transactions as an extra layer of security.
Step 9: Check for Compliance
You don’t want to get in hot water with the law or regulators, so you need to maintain some regulatory awareness. Familiarize yourself with cryptocurrency regulations in your jurisdiction and target markets. Some key areas to consider include anti-money laundering (AML), know-your-customer (KYC) requirements, securities laws, and tax compliance.
You might want to consult with a crypto lawyer or legal expert specializing in blockchain and cryptocurrencies. They can provide guidance on structuring your project to comply with relevant regulations, or give professional advice on token classification, licensing requirements, and necessary disclosures.
If you launch a meme coin without being compliant, it might come back to haunt you. Many meme coin project owners believe they are able to maintain anonymity and escape detection while committing digital asset fraud. This is NOT advisable.
Step 10: Develop a Marketing Strategy
A solid marketing strategy is essential for creating hype around your meme coin and attracting engaged users.
Some ideas to think about:
Leverage platforms like X, Reddit, Telegram, and Discord to build awareness
Create engaging content highlighting your meme coin's unique value proposition, while being funny, relevant, and interesting
Engage the community through regular posts, discussions, and Q&A sessions
Virality Tactics:
As a meme coin owner, you should utilize memes related to your coin's theme and encourage user-generated content
Offer airdrops to incentivize sharing referrals
Partner with crypto influencers to expand your reach
By focusing efforts in these key areas, you'll be well-positioned to create a strong brand presence following launch!
Step 11: Launch Your Meme Coin
All the prep is done, now you can launch your meme coin!
The launch, however, is crucial. It can make or break the initial success and subsequent momentum of your project.
You have two main options for your launch strategy:
A fair launch (no pre-mine, all tokens distributed publicly)
A pre-sale launch (selling tokens to investors before public launch).
Consider the tradeoffs between decentralization and upfront funding.
Here are some ideas for building anticipation:
Create buzz ahead of your launch across all channels
Share a specific date or time for the launch
Post sneak peeks of exclusive content
Run pre-launch campaigns like referral contests or NFT mystery box sales
Post-launch, monitor everything closely, keeping an eye out for bugs or issues. You should also monitor social media for the community reaction, and be ready to communicate quickly if problems arise.
A successful launch sets the stage for everything that follows.
Step 12: List Your Coin on Crypto Exchanges
Getting your coin listed on centralized crypto exchanges won’t be easy (or cheap), but it’s an important step for visibility, liquidity, trading volume, and credibility.
At first, however, you’re more likely to test the waters by launching on a decentralized exchange (DEX):
Start by listing on decentralized exchanges (DEXs) like PancakeSwap (BSC), Uniswap (ETH) or Raydium (SOL)
The process is typically automated and low-friction
Once you gain traction on DEXs, you can:
Target larger centralized exchanges (CEXs) like Binance, Coinbase or KuCoin
Gain more exposure for your meme coin (if you pass the rigorous vetting process and can afford the 6-7 figure fees)
Ensure there is sufficient community demand and buzz before applying, to avoid rejection or wasted resources. To improve your odds of approval, have clear documentation ready, including the whitepaper, audit reports, and team info.
Step 13: Build Your Community
Growing an active and engaged community might just define the success of your meme coin, such is the community-centric nature of these projects.
With that in mind, here are some strategies to achieve it:
Community Engagement: Engaged users will promote your project organically. Encourage participation through regular interactions, be responsive to feedback, and be transparent about what’s happening with the meme coin
Interactive Strategies: AMA sessions, contests, giveaways, polls and surveys, incentivized engagement (such as questing) and behind-the-scenes content all help build personal connections
Community Managers: Consider hiring experienced crypto community managers. Empower them to shape the "voice" of your project and guide all discussions in a positive way
By consistently investing in your community, you'll create evangelists who believe in your meme coin's long-term potential.
Step 14: Issue Regular Updates
Keeping your community informed and engaged is vital to help maintain long-term success for your meme coin.
Here's how to approach engagement:
Set a regular cadence for updates - weekly or bi-weekly works well for most projects
Cover key areas, like development progress, marketing efforts, community growth, and upcoming plans
Use a mix of formats like blog posts, videos, and podcasts to cater to different preferences and audiences
Encourage discussion and feedback on each update to create a two-way dialogue with the community
Beyond just reporting on recent events, use updates as an opportunity to reinforce your project's larger vision. Discuss how new developments tie into your roadmap and overarching goals. You can also share your thoughts on industry trends and where you see your meme coin fitting into the bigger picture.
Final Thoughts
Before launching a meme coin, you’ll probably want to know the meme coin space in and out to become an expert on it. One way you can do that is through BONKbot. Our Telegram-based trading tool will expose you to all sorts of new and exciting meme-driven projects.