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A successful launch of an ICO requires detailed functioning from scratch and it may take some time. Generally, the pre-public engagement phase takes around six months to a year to completely launch a campaign. The post-public engagement phase takes around three months; it is the time between the first announcement and the actual sale of the tokens.
[sc_fs_multi_faq headline-0=”h3″ question-0=”Is it essential to have a project for ICO fundraising?” answer-0=”Yes, while you will be pitching to investors to join in the ICO campaign, you need to demonstrate a cryptocurrency project where you will chip in the funding collected. You need to have a specific project with a clear model to boost confidence in the project.” headline-1=”h2″ question-1=”It is necessary to have a white paper for my ICO?” answer-1=”Yes, you need a detailed white paper for your ICO project to educate investors about your business model how you intend to spend the funds that you raise during different phases of your ICO project. In addition, the white paper explains the tokenomics. ” headline-2=”h3″ question-2=”Is it important to list a token on an exchange?” answer-2=”It depends on your business model. Usually, many businesses prefer to list their ICO tokens on a cryptocurrency exchange to gain more traction for their tokens.” count=”3″ html=”false”]
Moving forward to the team members in the project, you should have dedicated individuals catering to various areas of operations. Majorly, the team includes developers, PR strategists, advisors, crypto specialists, partners, and investors.
Although there are no set guidelines for ICO token development, the following checklist will surely guide you in launching a successful ICO.
Formulate clear guidelines for your ICO
For successful ICO software development, you need to objectively formulate a strategy that will define the current limitations of the market and how your solution will cater to the market requirements. To work out such a design, you need to have a thorough understanding of the market and your target audience.
You will have your token if you are going for an ICO funding. There are over 5,000 cryptocurrencies in the market and while launching your token you have to be very specific in the details. You should define a workflow where you will be integrating your cryptocurrency in the project.
Know your competition
After designing your foundation, you should concentrate your efforts on the region or competitors that you will be targeting. You need to be very clear about the services you will be offering and how you are better against everyone else. You need to define how you differentiate from others and how you can attract investor’s money.
Comprehensive R&D on license and legitimacy of ICO
A lot of ICOs are running down and shutting as many individuals have run away with the funds that they raised through their ICO. To put an end to this problem, many countries have regulated ICOs to make it legal.
For instance, US authorities have defined the regulations that any citizen who has earned any income or wealth will report to the IRS (Internal Revenue Service). Moreover, the US SEC is working towards making an ICO complaint with the KYC (Know Your Customer) policies. Due to this, many US citizens have been exempted from buying such disorganized tokens.
Therefore while defining your ICO journey, you need to thoroughly go through the cryptocurrency regulations and place yourself in the appropriate location. You cannot take a chance to miss any guidelines and make sure to pay close attention to future regulations as they come by. Hiring a professional lawyer or a reliable ICO software development company can prove to be beneficial for the successful launch of the ICO project.
Create an ICO token
Now is the stage where your project needs to have a practical life to technical architecture. Till now, your project was in the planning stage and now it sees the implementation.
Starting with, you need to frame a solid distribution plan to diversify your ICO reach. Though there are many different structures available, you need to set aside the stages for your ICO distribution. There are many stages of token sale such as private sale, pre-sale, actual ICO and also general sale.
Furthermore, you need to outline the mechanism as to how exactly your tokens would be distributed among the investors. You should be very clear about the initials as to how many tokens you will be issuing in total and in which ratio you will be distributing them among the team members and early investors. And finally, if required, determine how you will be issuing the additional tokens.
Writing of a white paper
A white paper is a technical document that describes the business project authoritatively and comprehensively. The white paper plays a chief role in shaping your business image as it covers everything – from detailed market analysis to the practical image of your project. It should be data-rich and be able to command the investors’ attention.
Though it is also well known that not all the investors will be going through your detailed white paper, you have to position yourself as an industry expert and build a strong marketplace around it through your white paper. Various enthusiasts are well-versed and take a keen interest in the development, so you should value all the people in the crypto community and create a detailed white paper.
Launch of a website
- Content: There are three main things you need to consider while formatting the content for the website. You need to focus on the team members, the mission of the project and how you will protect the interest of the investors. Starting with the “team section” for your website, you should mention all the team members with their respective skills and expertise or even links of their social media channels. The details on the webpage should be more generic and informative rather than going into the key details of their job profiles. Moving forward to the roadmap or the mission of your ICO project, this section exhibits the goals to be achieved within a specific time. Preferably, you should mention the dates and the cost structure to better infuse confidence in the project. And lastly, you may mention all the social media links of the project.
- Layout: After you are ready with the content of the website, spare some time for designing the layout of your ICO website. Nowadays, ICOs go for a single page website that showcases all the details of your project. But you need not necessarily go with this format. You can design the layout of your website according to the presentation of the information you wish to portray.
- Security: The most important aspect to look into is the security of your website; you do not want it to be down at any point of time. Once your ICO starts, many investors would start coming in and you have to provide them with a secure environment. Hacking and DDoS attacks are the most common form of threats that affect any project. While running PR campaigns for ICO, make sure to protect your ICO from the phishing attacks.
- Design: Your website should look reliable, easy-to-go through yet friendly to the investors. If you are considering targeting the global region then make sure that your website is translated into different languages.
PR and marketing
Now you have come to a stage where you have a project designed and also assembled the whole team for the ICO project. So finally the time has come to promote the ICO campaign. You have to allocate some funds for marketing. It is beneficial to leverage both paid and organic channels of marketing to take full advantage of the market.
- Focus on constant communication- Make sure to constantly engage with the target audience until your ICO campaign is fully successful.
- Be a part of the Cryptocurrency Community- You need to capture the interest of the audience and be an influencer on various social media channels and forums. BitcoinTalk is the biggest bitcoin-related forum which is used as a medium by various enthusiasts to make any big announcement or to create a crypto community. Make sure to leverage the full potential of Reddit and Quora to talk about your project and its idea among the community. Similarly, Slack, Telegram, LinkedIn and Facebook are also widely-used channels to promote your ICO and keep your audience engaged with the project.
- Mailing Marketing- You could work on outbound mailing to keep your audience engaged with your project. However, make sure not to send too many emails otherwise you may get spammed.
- Bounty Program- You should also appropriately focus on the bounty programs. Many people work to promote your ICO on various forums. They are specialized in creating threads around various topics and keep the topic trendy for a longer period. Do not focus too much advertising as it may also irritate the community.
Launch of an ICO
At this stage, your ICO is live and you need to consider for how long your ICO would last. You may consider some successful ICOs and go by their timeframe. As also mentioned above the average time duration for any project should not be too long as the investors may not be able to see the actual results and at the same, time it should not be too short as in this case your project may not be able to gain sufficient traction. Communication remains a vital element in the whole process of ICO token development.
Lastly, after you have successfully concluded ICO, it is time to deliver what was promised to the investors. Start by developing your project and look to integrate your coin/token into a cryptocurrency exchange.
Conclusion
The basic attribute of ICO software development is to create an imaginable value of the proposed token or coin. Defining a coin name with the symbol and description attracts major investors.
If you are planning for ICO token development, Antier Solutions can help you navigate in the right direction. We are backed by professional ICO developers who are well versed with the recent developments and can transform your idea into a successful project.
Schedule a call with our ICO experts to share your customized requirements.
