# 🟡 Chapter 3 — Opening a New Pool

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### Why open a new pool?

* Trade any pair that doesn’t already exist
* Earn fees from the start as the first LP
* Attract more traders and liquidity to your pair to help in your application for a SuiDex Farm reward Pool

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How to open a pool

1. Connect your wallet
2. Go to Create Pool
3. Select the two tokens you want to pair and "Create Trading Pair" with one transaction.&#x20;
4. Following this you will be prompted to set the Starting Price for the Liquidity Pair. This is usually the market price.

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**Setting the Starting Price**

When you create a new pool, you’ll need to set the initial price for your tokens. The safest way is to match the current market price.

For example:

If you’re opening a SUI/SUITRUMP pool, check the SUITRUMP price in USDC on Dexscreener. Use that value to set your initial liquidity price.

If the pool you want to create is paired with SUI, then check the price in SUI and use that to set your initial liquidity.&#x20;

You can find the USD or SUI token price value by going to your token on Dexcreener and scrolling down, you will find it at the bottom right hand side. This keeps your pool aligned with the market and avoids traders instantly taking advantage of a mis-priced pool.

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After setting your starting price, you can test it by adding further liquidity. The second asset will automatically follow your initial starting price. After trading begins this ratio will adjust with market demand.&#x20;

### What to watch out for

* Low volume risk – If nobody trades your pair, fee income will be small
* Price discovery – Wrong initial price = easy arbitrage for others
* Impermanent loss – Pool value can shift as token prices move

***

💡 Tip: Opening a pool works best for pairs you believe will get traction. First LPs often do well, but carry more risk.&#x20;

### Apply for a SuiDex Farm Reward Pool for your token today!

If you have opened a liquidity pool with the aim of being granted a Farm Reward Pool on SuiDex, don't hesitate to get in touch with us by opening a ticket on our discord server. <https://discord.gg/R6V8mQgQUg>
