Creating a MemeCoin — Token with Tax on Sell/Buy in Ethereum/Solidity

In this blog post, we’ll walk through the basic requirements to create such a token, explain why Uniswap V2 is necessary, and how tools like Remix IDE and test tokens from a faucet come into play.

Video with the explanation: https://youtu.be/F5ABMhNjv84

What You Need:

1. Solidity Smart Contract (with Tax Logic)
2. Binance Smart Chain (BSC) Testnet Setup
3. Remix IDE
4. BNB Test Tokens from a Faucet
5. Uniswap V2 Compatibility
6. Metamask Wallet Configuration

The contract (DO NOT COPY PASTE IT)

I’ve marked with // CHANGE ME the parts that need changed

If you need assistance, feel free to contact me on Telegram @andyxyz1. I specialize in smart contracts and offer professional consulting services.

Why BSC Testnet?

Deploying directly to the mainnet is risky and costly, so the BSC Testnet allows you to experiment without real financial loss. You can catch bugs or optimize your contract for real-world performance.

How to Connect to BSC Testnet:

1. Metamask Setup: You will need to set up Metamask to interact with the BNB Testnet.

• Open Metamask and select “Add Network.”
• Enter the following details:
• Network Name: BSC Testnet
• New RPC URL: https://data-seed-prebsc-1-s1.binance.org:8545/
• Chain ID: 97
• Symbol: BNB
• Block Explorer URL: https://testnet.bscscan.com

1. BNB Test Tokens: Test tokens can be acquired from a BNB faucet, which allows you to interact with the BSC Testnet without using real BNB.

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. Remix IDE

Remix IDE is a popular browser-based tool for developing and deploying smart contracts. Here’s why you need it:

• Write Solidity Code: Remix allows you to write your Solidity code directly in the browser.
• Compile Contracts: It includes a built-in compiler to ensure your contract is error-free.
• Deploy to BSC Testnet: Remix integrates easily with Metamask, allowing you to deploy contracts directly onto the BSC Testnet.

Steps in Remix IDE:

1. Write or paste your Solidity contract into Remix.
2. Compile the contract using the compiler.
3. Deploy the contract by selecting “Injected Web3” to connect to your Metamask wallet on the BSC Testnet.

4. BNB Test Tokens from a Faucet

To interact with the BSC Testnet, you need BNB tokens to pay for gas fees. These aren’t real tokens, but test tokens given for free by faucets like Binance Faucet.

• Visit the faucet link.
• Provide your Testnet wallet address (from Metamask).
• Claim BNB test tokens to use for deploying and testing your contracts.

5. Why Uniswap V2?

PancakeSwap is the most popular decentralized exchange (DEX) on the Binance Smart Chain. It is a clone of Uniswap v2.
When launching a token with liquidity provision (e.g., a MemeCoin), PancakeSwap V2 is the ideal choice due to its low fees and wide usage.

Why PancakeSwap V2 Over V3?

Isn’t V3 supposed to be “better” then V2? Yes, but…

V3’s Challenge for MemeCoins:

• Concentrated Liquidity Can Be Tricky: While V3 offers the option to provide liquidity within specific price ranges, this can backfire for highly volatile MemeCoins. Prices can easily move outside of those ranges, causing liquidity to “dry up” and trades to fail until new liquidity is added within the new price range.
• Unproven for MemeCoins: While V3 offers better capital efficiency for certain types of tokens, it has not yet proven itself as the go-to platform for MemeCoin launches. The complexity of its liquidity model and the additional risk it introduces (like liquidity drying up outside price ranges) could make it less ideal for volatile tokens.

V2 is easier for both developers and users to navigate, requires less active management of liquidity, and is better suited for the smaller liquidity pools that typically accompany MemeCoins in their early stages. For these reasons, if you’re planning to launch a MemeCoin, PancakeSwap V2 should be your go-to decentralized exchange.

6. Metamask Wallet Configuration

Lastly, you’ll need to configure your Metamask wallet to interact with both the Remix IDE and PancakeSwap V2 on the BNB Testnet.

1. Connect to PancakeSwap Testnet: After deploying your MemeCoin contract, you can add liquidity to PancakeSwap’s testnet.
2. Interact with Your Token: Using Metamask, you can test your token’s transactions, swap functionality, and the tax logic through PancakeSwap V2 on the Testnet.

If you need assistance, feel free to contact me on Telegram @andyxyz1

I specialize in smart contracts and offer professional consulting services.