Creating a Market

Anyone can create a new market for any ERC-20 token. No approvals, no governance votes, no admin permissions.

What you need

1. A token address — any ERC-20 token you want to trade against USDC
2. Initial token liquidity — tokens to seed the pool
3. Initial USDC liquidity — USDC to seed the other side
4. Swap fee — the fee percentage for swaps (in basis points, e.g., 100 = 1%)

What happens

Calling createMarket() on the Factory:

1. AirToken deployed — ERC-20 wrapper for your underlying token (matches its decimals)
2. AirUsd deployed — ERC-20 wrapper for USDC (6 decimals)
3. EXNIHILOPool deployed — the AMM + trading contract
4. LP NFT minted — to you, the market creator
5. Initial liquidity seeded — your tokens are deposited into the pool
6. Market registered — MarketCreated event emitted

All of this happens in a single atomic transaction.

Initial price

The initial spot price is determined by the ratio of your seed liquidity:

spotPrice = usdcAmount / tokenAmount

For example, seeding with 1,000 USDC and 1,000,000 tokens sets the initial price at $0.001 per token.

After creation

You receive an LP NFT and become the sole liquidity provider. You can:

• Add more liquidity
• Set position caps
• Claim fees as traders open positions
• Transfer the LP NFT to someone else

Token requirements

• Must be a standard ERC-20 (no fee-on-transfer tokens — the pool rejects them)
• Must have a decimals() function (the factory reads it to configure airToken)
• If symbol() is unavailable, the factory uses "???" as fallback