If you want to create a token on X1 Blockchain, there is realistically one place to do it: Degen. That is not a recommendation so much as a description of the market. X1 has several DEXes, an OTC desk and a swap aggregator, but only one launchpad with meaningful volume flowing through it. This guide covers what launching actually costs, what the mechanics do and do not protect you from, how the numbers compare to pump.fun on Solana, and what to check before you buy somebody else's launch.
Everything below was read from the live Degen app on September 10, 2026, with the fee and curve parameters confirmed against our own on-app audit from August 5. Where a number moves, we have said so.
The short answer
| Question | Answer |
|---|---|
| Where do I launch? | Degen — app.degen.fyi |
| What does it cost to create? | 10 XNT (about $3.30 at today's XNT price) |
| What do I need first? | An X1 wallet with XNT — see our wallet setup guide |
| How does the price get set? | A constant-product bonding curve, not a presale or fixed price |
| When does it start trading on a DEX? | At graduation — 1,000 XNT raised into the curve |
| Can the creator pull the liquidity? | No. LP is locked 100% by the contract, not by promise |
| How long does it take? | Creation is one transaction. Graduation depends entirely on demand — most tokens never get there |
What you need before you start
Three things, and only three:
- An X1-compatible wallet. Backpack is the standard choice. If you have not set one up, our X1 wallet installation guide covers desktop and mobile.
- XNT for the creation fee and gas. Ten XNT covers creation; keep a little more for transaction fees. X1 fees are negligible, but zero is still not enough.
- A name, a symbol and a description. The description is the only thing a prospective buyer reads before deciding, and on a launchpad where most entries say four words, it is a larger differentiator than people expect.
Notably absent from that list: a smart contract, a liquidity budget, an audit, or a listing application. The launchpad deploys the contract and provisions the pool itself. That is the entire value proposition of the format.
How a Degen launch actually works
The lifecycle has four stages, and understanding the second one is what separates people who read the curve from people who read the chart.
1. Create
You supply the name, symbol, supply and description. Degen deploys a Token-2022 mint on X1 mainnet and opens a bonding curve against it. Cost: 10 XNT. There is no allocation round, no team tranche you configure, and no vesting schedule to design — the parameters are fixed by the platform and identical for every token on it.
2. Bond
This is the part worth understanding properly. There is no pre-set price. The token's price is a mathematical function of how much of the supply has been sold so far, along a constant product curve quoted in XNT. The first buyer pays the lowest price. Every subsequent purchase moves along the curve and raises the price for the next buyer. Selling moves back down the same curve.
There is no order book and no counterparty. The curve is the market maker, and it always has liquidity because the contract holds the reserve. The structural consequence people most often misread: early buyers are advantaged by design, not by exploit. The curve has to reward being early, because the reserve has to fill from somewhere. Anyone buying at 90% completion is paying for the accumulation that got it there.
On the live app, every token displays its curve completion as a percentage. On September 10 the active launches sat between 26% and 45% — which is to say most of them are still filling, and none of those had graduated.
3. Graduate
When the curve fills to the migration threshold — 1,000 XNT raised — the token graduates. The contract takes the accumulated XNT reserve, pairs it with the portion of supply held back for exactly this purpose, and creates a standard AMM pool on XDEX. A graduation fee of 20 XNT is deducted. The resulting LP tokens are locked at 100%.
The supply split is the number most worth knowing: 79.31% of supply is sold into the curve, and 20.69% is withheld to seed the DEX pool at graduation. The creator never controls that liquidity at any point. It is provisioned by the contract and locked on arrival.
4. Trade
Post-graduation the token is a normal SPL asset on X1 with a real AMM pool. It trades on XDEX, and it is reachable through RipperSwap's aggregation and XDEX's own smart routing, which will route a swap through it as one hop in a longer path.
The parameters, in one table
Every launch on Degen runs the same parameter set — the platform exposes all of it on each token page, which is genuinely unusual for a launchpad.
| Parameter | Value |
|---|---|
| Network | X1 Mainnet |
| Token standard | Token-2022 |
| Creation fee | 10 XNT |
| Curve type | Constant product |
| Quote token | XNT |
| Trade fee | 1.00% |
| Migration threshold | 1,000 XNT raised |
| Graduation fee | 20 XNT |
| Supply sold on curve | 79.31% |
| LP provisioned at graduation | 20.69% |
| LP lock | 100% |
Degen vs pump.fun: the comparison that actually matters
pump.fun on Solana is the reference implementation of this format, and the honest way to compare the two is not on features — they are structurally near-identical — but on scale, where the gap is enormous.
| Degen (X1) | pump.fun (Solana) | |
|---|---|---|
| Creation fee | 10 XNT (~$3.30) | ~0.02 SOL |
| Trade fee | 1.00% | 1.25% |
| Graduation threshold | 1,000 XNT (~$330) | ~$69,000 market cap |
| Graduates to | XDEX | PumpSwap |
| LP lock | 100%, mandatory | Pool migrated and burned |
| Share that graduate | A meaningful minority | Under 2% |
Read the graduation row twice. Degen's threshold is roughly 200x lower than pump.fun's. That single number explains most of the difference in how the two platforms feel to use.
On pump.fun, graduation is a genuine achievement that filters out the overwhelming majority of launches — under 2% ever get there. On Degen, graduation is reachable by a modestly enthusiastic group chat. Neither is inherently better. A low threshold means a token reaches a real DEX pool quickly and stops being hostage to the curve; it also means graduation certifies far less about demand than the same word does on Solana. If you are arriving from Solana, that is the recalibration to make: a graduated token on X1 is not the equivalent of a graduated token on pump.fun.
The honest scale check
This is the section most launchpad coverage omits, so here it is plainly. On September 10, the market caps visible on the Degen app looked like this: active tokens on the curve between $105 and $317, and graduated tokens around $1,500.
Those are not typos. X1's launch market is small — small enough that a few hundred dollars of buying moves a token materially, and small enough that "top of the leaderboard" and "worth a meaningful position" are very different claims. Anyone bringing Solana-sized expectations to it will be disappointed, and anyone sizing positions as though these were liquid assets will find out why liquidity depth matters.
The infrastructure is real and the mechanics are sound. The market on top of it is early. Both things are true at once, and a guide that told you only the first half would not be worth reading.
What 100% LP lock does and does not guarantee
"100% LP lock" is the most over-interpreted phrase in token launches, so it is worth stating precisely.
What it prevents. The deployer cannot withdraw the pooled liquidity. The classic rug — where a team pulls the pool and leaves holders with a token that cannot be sold at any price — is structurally impossible. There is always a pool to sell into.
What it does not prevent. A locked pool does not guarantee a price. If holders sell into it, the price falls exactly as it would in any AMM. It does not stop supply held outside the pool from being dumped. And it says nothing whatsoever about whether the project behind the token does anything at all.
Locked liquidity is a floor on exit mechanics, not a floor on value. It guarantees you can always sell. It makes no promise about the price you will get. Treat it as the removal of one specific catastrophic risk, not as a safety rating.
What to check before buying somebody else's launch
The mechanism being fair does not make every token launched through it a reasonable purchase. The mechanism is neutral infrastructure; the tokens vary enormously. A workable checklist:
- Curve position. Buying at 90% completion is a materially different proposition from buying at 10%. The app shows this as a percentage on every token — read it before the chart.
- Holder distribution. Inspect the token account list on any X1 explorer. If a handful of wallets hold most of the supply, the locked pool will not save you when they decide to exit.
- Post-graduation depth. A graduated token backed by a ~1,000 XNT pool has a pool worth a few hundred dollars. Size accordingly.
- Whether anything exists. Most launches are memes and are not pretending otherwise. The failure mode is a token presented as a project with nothing behind it. If a team is claimed, look for it — and check whether the community has anything to say in our X1 project reviews.
Frequently asked questions
Can I launch a token on X1 without writing a smart contract?
Yes. Degen deploys the Token-2022 mint and provisions the pool for you. The 10 XNT creation fee is the entire technical barrier.
How much XNT do I need to launch?
Ten XNT for creation, plus gas. You do not need to fund the liquidity pool yourself — the bonding curve fills it from buyers, and the 20.69% supply reserve seeds the DEX pool at graduation.
What happens if my token never graduates?
It stays on the curve indefinitely and remains tradeable there. Graduation is a migration to a DEX pool, not an expiry date. Most tokens do not graduate.
Is Degen the same as pump.fun?
Structurally very similar — bonding curve, graduation, migration to an AMM. The decisive difference is scale: Degen's graduation threshold is around 1,000 XNT versus roughly $69,000 on pump.fun, so the two words mean quite different things.
Where do graduated tokens trade?
XDEX, with routing available through RipperSwap and XDEX's own smart routing.
Does 100% LP lock mean the token is safe?
No. It means the liquidity cannot be withdrawn by the creator. It is a guarantee about exit mechanics, not about value, and not about the people behind the token.
Nothing here is financial advice. Token launches are high-risk, the market described above is small and illiquid, and the mechanics that make a launch fair say nothing about whether any given token is worth buying. Parameters read from the live Degen app on September 10, 2026 and may change.