> For the complete documentation index, see [llms.txt](https://basedinc.gitbook.io/basedbid/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://basedinc.gitbook.io/basedbid/explainers/launch-explainers/what-is-a-flash-token.md).

# What is a Flash Token?

<p align="center"><a href="/basedbid/projects-how-to-guides/how-to-create-a-flash-token.md" class="button primary" data-icon="coin-front">Click here to learn how to create a Flash Token</a></p>

<p align="center"><a href="https://based.bid/launch-flash" class="button primary" data-icon="coins">Click here to Create a Flash Token</a></p>

<details>

<summary><strong>What are Flash Tokens?</strong></summary>

Flash Tokens let you deploy tokens instantly with <mark style="color:$primary;">**virtual liquidity**</mark> on V3/V4 DEXs, <mark style="color:$primary;">**no upfront capital required**</mark>

Flash Tokens come with two fee layers built in:

* <mark style="color:purple;">**LP Fees**</mark> <mark style="color:purple;"></mark>*<mark style="color:purple;">(EVM only)</mark>*<mark style="color:purple;">**:**</mark> 50% in native token and 50% in project token
* <mark style="color:purple;">**Fee Builder:**</mark> BasedBid's custom hook that captures a programmable fee directly at the swap. No token sells. No thresholds. No red candles. Route it to holder rewards, buybacks, liquidity or any custom wallet

<p align="center"><a href="/basedbid/explainers/launch-explainers/fee-builder.md" class="button primary" data-icon="layer-plus">Learn more about the Fee Builder</a></p>

</details>

<details>

<summary><strong>What is Virtual Liquidity?</strong></summary>

* Virtual liquidity simulates a funded liquidity pool <mark style="color:$primary;">**without using any real capital**</mark>
* The DEX prices your token as if liquidity exists from the moment of launch
* As traders buy and sell, real liquidity builds organically in the pool
* You earn trading fees the entire time, <mark style="color:$primary;">**without putting up a cent**</mark>

</details>

<details>

<summary><strong>Why Flash Tokens?</strong></summary>

* <mark style="color:$primary;">**No up front costs**</mark>
* Start trading immediately
* Earn trading fees of up to <mark style="color:$primary;">**20%**</mark> on a DEX

</details>