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A token on its own cannot be bought. It exists, it has a name and a supply, and that is all. To trade it, somebody has to be willing to swap it for something people already hold — and on Solana that somebody is a pool.

A CPMM pool ("constant product market maker") holds two piles: some of your token, and some SOL. When a buyer puts SOL in, they take your token out, and the pool automatically raises the price of the next one. When a seller puts your token back in, the price falls. Nobody sets the price — the ratio of the two piles is the price.

You create the pool by putting up both sides. That opening deposit is what people mean by "liquidity". A thin pool moves violently on a small trade; a deeper one absorbs buying and selling without lurching. It is not a fee: the liquidity is still yours, sitting in the pool, and you hold an LP token that represents your claim on it.

Raydium charges 0.15 SOL to open a CPMM pool. That is Raydium's fee, not ours, and it is larger than what we charge. It does not come back.

Every SPL token carries two special permissions, and both of them belong to whoever created it — you.

The mint authority is the right to create more of the token. If you keep it, you can print new supply whenever you like. Buyers see that and read it as: the supply I am buying into can be diluted at any moment, without warning.

The freeze authority is the right to freeze any holder's account. If you keep it, you can stop a specific wallet from ever selling. Buyers read that as: this token can be made worthless to me alone, at the creator's discretion. Raydium and other venues also reject pools for some tokens that carry it.

You can revoke either one, permanently. Revoking the mint authority fixes the supply forever. Revoking the freeze authority means no one — not even you — can ever freeze a holder. Most serious launches revoke both, and every scanner a buyer uses will tell them whether you did.

When you open a pool you get LP tokens back. They are the receipt: they say "this share of the pool is mine". Hand them in and you get your liquidity out.

That is exactly what worries a buyer. If you can withdraw the liquidity, you can withdraw it right after they buy — the pool empties, their token becomes unsellable, and they hold nothing. It happens often enough that it has a name.

Burning the LP tokens sends them to an address nobody controls. The receipt is destroyed. The liquidity stays in the pool forever, and no one — including you — can ever take it out. That is what people mean by "locked liquidity", and it is why they check for it.

The price is that it is genuinely permanent. Your liquidity is not parked, it is given up. You still earn the pool's trading fees, but the deposit itself is not coming back.