A method for producing and commissioning a transmission with a water-based lubricant comprises the following steps. A mixture of a vaporizable liquid, a comminuted solid lubricant and a preserving agent (22) are applied (21) to the finished rotary parts (20) and then dried (23), whereby a coating forms on them. The rotary parts with the coating are installed in the transmission housing and the assembled transmission is filled with a cooling liquid (25), which is primarily essentially water. The transmission is put into operation for the first time (27), wherein the lubricant for the further operation is only formed by abrasion of the rotary parts and distribution of the abraded matter in the cooling liquid. The transmission is then ready for operation (28). Furthermore, a lubricant produced by this method is described.