> ## Documentation Index
> Fetch the complete documentation index at: https://docs.anvil.markets/llms.txt
> Use this file to discover all available pages before exploring further.

# Create a market

> Bring a token pair and initial liquidity to ANVIL.

ANVIL's lending programs and governance are initialized on mainnet. Use the market-creation flow to set up a pair when the app's readiness checks pass. You need a supported pair, the assets you plan to supply, and SOL for transaction and account-creation costs.

The creator chooses pool settings. The current default swap fee is **0.25%**, but each pool's settings should be reviewed independently.

## The creation journey

The app's wizard prepares five stages:

<Steps>
  <Step title="LP mints">Create the token mints used for the pool's liquidity positions.</Step>
  <Step title="Initialize the market">Register the pair and its market parameters in the ANVIL lending program.</Step>
  <Step title="LP metadata">Set the identifying metadata for the pool's LP assets.</Step>
  <Step title="Yield accounts">Prepare the accounts required for yield accounting.</Step>
  <Step title="Seed liquidity">Supply the initial assets and confirm the resulting pool position.</Step>
</Steps>

These stages can require separate transactions. If a step fails, inspect the confirmed steps and resume from the app's current state before starting another market.

## Before you sign

Verify both mint addresses, their decimal precision, the asset amounts, and the fee settings. Asset approval does not remove transfer taxes or issuer restrictions. Deposits only become usable liquidity when the relevant transactions confirm and the pool is operational.

After creation, check the market in the directory and verify its balances. See [providing liquidity](/lending/provide-liquidity).