When people are under lot of anticipation towards latest updates about Initial Coin Offering (ICO) which happens to be a lot these days, they wish to just sit down and actively search some useful guide for a while to take all important aspects in launching an Initial Coin Offering (ICO). So it must come as a surprise to no one that people enjoy Important Guide for launching an Initial Coin Offering (ICO), particularly on CryptoEx.
Below is a guide of all of the details we collected about the ICO process, with input from people who have wholly experienced the process first hand. Pre-planning is most important aspect and there is two questions you require to think about first namely what the purpose of the token is and Are you sure want to do an ICO?
Here are few things to keep in mind while thinking through whether your project should do an ICO in the first place:
1)All the actions you take will be reflected in the price of the token.
2)Your team will get actively bombarded non-stop, multiple times a day, with questions about the price of your token.
3)You’ll require being an international company from day one.
All of your internal team discussions would likely be pushed publicly.
Would come across stress in trying to build things that are long-term valuable vs. short-term valuable.
If your product isn’t open sourced already, there would be a huge backlash to become completely open sourced. There is a strong expectation that many blockchain projects are open-sourced projects.
7)Primarily cryptocurrency projects are way more public and transparent than typical start-ups, or even traditional public companies.
8)Quality blockchain projects look and function much more like open-sourced software projects vs. traditional tech businesses. You and your team would have to decide both whether your application makes sense to be built on a blockchain + you like to operate as a transparent and open company.
Planning
Once you are sincerely committed to start an ICO, the core components in planning are respectively as offering, whitepaper, token design, legal, precautions against the inevitable hackers, and being professionally prepared for communication -(website, slack, social, press, interviews, etc.
Offering
There would be general questions like how much do you want to rise and what do you want to accomplish with the specific distribution method you are selecting?
Valid Considerations:
For your effective ICO — are you trying to raise the most amount of money? Are you trying to build a broad base of supporters? Are you trying to target a particular profile of prosperous users? Are you trying to incentivize developers to build on top of your platform? Etc.
Other general questions to think about:
- Allocation — what percentage are you giving to your team, investors, partners, reserving for the ecosystem, reserving for the company/foundation?
2)Where would the money that you raise go to? You must have an annual budget for the next 5 years.
3)Do you want a cap? If so what cap will you set? This depends on the amount you are targeting to raise.