Pool creation
Pool creation is permissionless; no approval is required. Creating a new liquidity pool on Aero means choosing the token pair and pool type, setting the opening price, and seeding initial liquidity. A new pool generates trade fees from the first trade.
This is the self-serve path, open to anyone for any pair on any supported network. An issuer preparing a token generation event and looking for additional support should review the Launch page instead.
Key concepts
Seed liquidity
The initial deposit of tokens into a new pool, establishing its initial depth. Seed liquidity should be sufficient to resist small trades moving the price significantly and to establish a usable market from the first block. Thin seed liquidity results in high slippage and discourages trading.
Opening price
The starting price of the pool. For a Slipstream pool the creator sets it directly before depositing. For a Basic Pool the ratio of the two tokens in the seed deposit sets it. Either way it should match fair market value: if the opening price is inaccurate, arbitrage traders trade against the pool until the price corrects, and the difference comes out of the seed liquidity.
Gauge and AERO Rewards activation
A newly created pool does not earn AERO Rewards automatically. A pool's gauge must be activated before it is eligible to receive AERO Rewards. Until then the pool generates trade fees only, and its overview page shows Not eligible on the Allocate and AERO APR cards.
Dynamic fees (Slipstream only)
Slipstream pools use dynamic fees that adjust automatically. Basic Pools use a fee set at the factory level.
CL number (Slipstream only)
The app labels each Slipstream pool with a CL number, such as CL 1 or CL 200. It is the spacing of the pool's price grid: lower numbers mean a finer grid and allow tighter price ranges. The CL number is set at pool creation and cannot be changed. One pair can have one pool per CL number.
Before starting: prerequisites and checklist
- Both tokens are deployed onchain on the target network and their addresses can be verified.
- Both tokens are held in sufficient quantity to seed the pool meaningfully. Thin initial liquidity leads to higher volatility and price impact.
- A fair price has been determined. The app offers the current market price where it is available.
- The pool does not already exist. If a pool for the same pair and type already exists, the app lists it and the flow becomes a deposit into that pool.
- The reward type choice is understood. A new pool does not earn AERO Rewards until both tokens are listed and its gauge is active. Fee-earning deposits keep a portion of the fees generated straight away.
- The pool type has been determined. See Pool type selection below.
Pool type selection
Basic Pool vs. Slipstream
| Aspect | Basic | Slipstream (concentrated) |
|---|---|---|
| What it is | Liquidity spread across all prices from zero to infinity. Standard AMM. | Liquidity concentrated within a specific price range. Capital-efficient. |
| Opening price | Set by the ratio of the seed deposit. | Set directly by the creator before the seed deposit. |
| Capital efficiency | Lower per dollar; earns from every trade at any price. | Higher per dollar within range; earns only while the price is in range. |
| Management | No repositioning needed. | Requires monitoring and repositioning if price moves out of range, unless the deposit is full-range. |
| Fee structure | A fee set at the factory level. | Dynamic fees that adjust automatically with recent price movement. |
Volatile vs. Stable (Basic Pools only)
| Curve type | Format | Use |
|---|---|---|
| Volatile | Constant-product curve (x * y = k) | Pairs where the two assets are not expected to track each other (for example ETH/AERO, WBTC/USDC). |
| Stable | Stableswap curve, optimized for assets trading near 1:1 | Stablecoin pairs (USDC/DAI), wrapped variants of the same asset (WBTC/cbBTC), or synthetic pairs expected to maintain parity. |
One pair can have one Volatile pool and one Stable pool.
Create a pool: step-by-step
Anyone can create a pool. The token does not need to be registered first, and the pool is live as soon as the transaction confirms.
Step 1: Open Deposit
Open Liquidity in the sidebar. On the Pools tab, select + Deposit at the top right, above the pool list. The same link sits on the Deposits tab under Portfolio.
Step 2: Select the tokens
Choose the pair in the Deposit token and Paired with token fields. Each picker searches by name, symbol, or address and groups results by network. A token that is not yet listed can be found by its contract address.
Step 3: Choose the pool type
The app shows existing pools for the pair under ALL, CONCENTRATED, and BASIC tabs. Choose a Slipstream pool by its CL number, or a Basic pool by Volatile or Stable. Every row reads + Deposit. If a pool of that type already exists, selecting it starts a deposit into it. If none exists, the next step carries a Create new pool notice.
Step 4: Set the initial price (Slipstream only)
Under Set initial price, enter the USD price of one unit of the token; the pair-token equivalent is shown beneath. The app warns that a price set too high or too low invites arbitrage trades against the pool until prices align, at a cost to the seed liquidity. Select Continue.
For a Basic Pool there is no price input: the ratio of the two amounts in the seed deposit sets the opening price.
Step 5: Choose the reward type for the seed deposit
Under Rewards, select AERO rewards or Fee rewards. On a new pool, AERO Rewards do not flow until both tokens are listed and the gauge is active, so that card may be unavailable. A Fee-earning deposit keeps a portion of the fees generated from the first trade.
Step 6: Set the price range and seed amounts
For a Slipstream pool, pick a preset (+/-3%, +/-8%, +/-15%, or Full) or set the Low and High bounds directly. A narrower band concentrates the seed liquidity where price is most likely to trade; a wider band spreads it across a larger range.
Enter the amounts for the Deposit token and the Paired with token. Under Deposit settings, check the Slippage tolerance and select Edit to change it. Deposit enough to establish a usable market. Select Continue.
Step 7: Review and confirm
Review the range, Status, both token amounts, and Total deposit. Allow access to each token in the wallet (once per token), then confirm. Aero creates the pool and deposits the seed liquidity. A Deposit confirmed message appears, and the new pool is open to trading straight away.
After creation
The pool trades and generates fees immediately. AERO Rewards depend on separate steps: both tokens must be listed, which is a governance action, the pool's gauge must be active, and the gauge's cap must be above zero. Until then the pool's overview page shows Not eligible on its Allocate and AERO APR cards. Registry review does not block the pool from trading.