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.
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.
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.
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.
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.
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.
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.
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.
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.
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.