# Listing and Adding Markets

## Listing and Adding Custom Markets

Anyone can now list SPL tokens or Wrapped ERC20 Tokens on Serum.

### List New Market

{% hint style="danger" %}
This will create a new market and will require SOL to do it, if you want to add a market to a GUI that hasn't listed it you need to **Add Custom Market**
{% endhint %}

This will create a new market for a pair of tokens. Anyone can list any SPL or (wrapper on) ERC20 token on [Serum](https://dex.cyclos.io/#/list-new-market). 

![](https://593228139-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MX0KCPgI-ecLKfYa3jX%2F-MkbdAdJZjJ1_sBNc0sY%2F-Mkboom4D5rZsuINpu4c%2Fimage.png?alt=media\&token=f6f2927b-c8e3-44b5-9cee-8ec7576d94ec)

* **Base Token Mint Address:** The base token is the token being traded. For example, the base token of a BTC/USDT market is BTC.
* **Quote Token Mint Address:** The quote token is the token used to price trades. For example, the quote token of a BTC/USDT market is USDT.
* **Minimum Order Size:** Smallest allowed order size. For a BTC/USDT market, this would be in units of BTC, a.k.a. the Lot size.
* **Tick Size:** Smallest amount by which prices can move. For a BTC/USDT market, this would be in units of USDT, a.k.a. the price increment.

{% hint style="warning" %}
Creating a market should cost around 4 SOL. At the moment there is no way to close the market and recover the funds, make absolutely sure you want to create a market.
{% endhint %}

1. Obtain your SPL tokens; you can convert them between ERC20 and SPL via [Wormhole](https://wormholebridge.com/#/) or [Sollet Bridge](https://docs.projectserum.com/guides/getting-started/wallet-support/sol-wallet-serum-academy/converting-erc20-to-spl-tokens).
2. Go to a [GUI that allows you to list market](https://dex.cyclos.io/#/list-new-market)s.
3. Enter the desired parameters and submit. Check your wallet for messages
4. Copy the New market address

The Nodes are handling the details (including [cranking](https://docs.google.com/document/d/1isGJES4jzQutI0GtQGuqtrBUqeHxl_xJNXdtOv4SdII/edit)). You will only have to bring your own liquidity.

{% hint style="danger" %}
The Token Address or **Mint Address** is the **contract address** of a token i.e. the **token identifier**. Do not send tokens to this address. You can look for the mint addresses on your wallet or an explorer.
{% endhint %}

{% hint style="info" %}
Your market won't automatically appear on GUIs that are not listed, you must add it as a **Custom Market** first. 
{% endhint %}

### Add Custom Market

Direct links to the market won't work if it hasn't been listed officially by the GUI, if you want to use it you must

* Click the **+ button** on the homepage of the DEX, normally next to the trading pair
* Enter the New Market Address (Market ID) 
* Choose the market Label and Base Label of the token
* Click Add

![](https://593228139-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MX0KCPgI-ecLKfYa3jX%2F-MkbdAdJZjJ1_sBNc0sY%2F-Mkc3lFN2eD_bms5MKX3%2Fimage.png?alt=media\&token=0d561ecd-b1ac-452f-97e4-97756fd122e9)

{% hint style="info" %}
**Warning: unknown token** is the expected message when you enter the market ID, \
Do not use if it mentions being a deprecated market.
{% endhint %}


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