How-To & Guides
How to Create and Launch an ICRC-1 Token on the Internet Computer (No-Code Guide)
Launching a cryptocurrency or utility token on Ethereum or Solana often involves setting up complex local developer tooling, auditing Solidity smart contracts, and paying high deployment gas fees. On the Internet Computer, you can create and launch a fully compliant ICRC-1 / ICRC-2 token directly from your browser in under 5 minutes without writing a single line of code.
Ready to deploy now?
You can use the official ICPay Token Creator to deploy a production-ready ICRC-1 canister smart contract instantly using Internet Identity.
1. Understanding the ICRC-1 Standard
The ICRC-1 standard is the official token standard on the Internet Computer, similar to ERC-20 on Ethereum or SPL on Solana. Key features include:
- Subaccount Support: Users can hold multiple isolated balances under a single principal ID.
- Predictable Fixed Fees: Every token defines a fixed transfer fee (e.g. 0.0001 tokens) burned or sent to treasury on each transaction.
- ICRC-2 Approval & Allowance: Enables decentralized exchanges (DEXes) like ICPSwap and Sonic to execute swaps seamlessly without custody risks.
2. Parameters You Need Before Launching
| Field | Example | Description |
|---|---|---|
| Token Name | Sovereign Cloud Coin | The full display name of your token project. |
| Token Symbol | SOV | 3–5 character ticker displayed in wallets and DEXes. |
| Decimals | 8 | 8 decimals is standard on ICP (similar to 1 e8s). |
| Transfer Fee | 0.0001 SOV | Fixed fee deducted on each transfer. |
| Initial Supply | 1,000,000 SOV | Total amount minted to your minting account upon creation. |
3. Step-by-Step: Deploying with ICPay
1
Sign In With Internet Identity: Navigate to /token/create and authenticate using your biometric passkey.
2
Enter Token Metadata: Fill in your token name, symbol, decimal precision, transfer fee, and initial supply.
3
Fund Canister Creation: Confirm the ~0.5 ICP creation and cycle funding fee. The Cycles Minting Canister (CMC) converts ICP to cycles and deploys the ledger canister.
4
Receive Canister ID & Initial Supply: You will instantly receive your unique on-chain Canister ID. Your initial token supply is deposited directly into your wallet.
4. Next Steps: Listing on DEXes & Distribution
Once your ICRC-1 canister is live on-chain:
- DEX Listing: Create a liquidity pool on ICPSwap or Sonic by depositing your token alongside ICP.
- Airdrops & Payments: Transfer tokens to any principal or subaccount with sub-second finality and 0.0001 fee.
- Canister Monitoring: Use ICPay Canister Tools to monitor cycles, check balances, and take state snapshots.
