There is no strict formula for making the successful launch of your Initial Coin Offering inevitable; however, sticking to some of the best practices can reduce the risk associated with it.
The six steps mentioned in this article aims to make the task easier for you. The sequential elaboration will guide you with ICO launch and make sense to approach an experienced ICO Development Company.
Launch your first ICO with 6 easy steps
Refer to these six steps for a better understanding of the ICO development and launch.
Step 1-
Questioning yourself.
The process begins when you think of investing in the ICO and using blockchain technology to source your revenue. However, it is important to be realistic in your approach since you take the first step until completing the entire process. The token generated should have application in the upcoming projects that are powered by blockchain.
Step 2-
Teaming up with advisors.
A team could not be said complete without the squads taking care of ICO's different aspects, from creation up till launch. The importance of experts' contribution as advisors includes cryptocurrency experts, industry experts, and public figures could not be neglected.
Read More: What is Initial Coin Offering (ICO) and How It Works?
Step 3-
Get it documented.
Getting your project elaborated on a white paper is indispensable. This way, you can gain the attention of serious investors faster. Along with several other elements, the white paper should consist of-
Problem and solution definition
Thorough Market analysis
Detailed information about the company
Team overview
Step 4-
Developing smart contracts.
Smart contracts are required not only for a token generation but also for automating the distribution process. Once a smart contract is deployed, it becomes next to impossible to have complete control over it. Hence, it is recommended that you make sufficient audits before deploying it on any specific blockchain.
Step 5-
Launching the ICO.
The ICO bundled with the smart contracts technology will automatically go on air on the arrival of the pre-defined date. A live demonstration for the public will encourage the investors and build a sense of security amongst the ones who are motivated.
Step 6-
Post-ICO life, does it even exist?
The answer to this question is- 'Yes, it does.' Once you launch your ICO successfully with the help of the right ICO development company, your project will immediately come under the scrutiny of the ICO and blockchain experts out there in the market. It is important that you adhere to the concept of utmost transparency and flow of information, that you must have followed since amongst the team and stakeholders associated with the project.
To Hire ICO Developer
The six steps mentioned in the article are a basic structure adopted while creating an ICO. In the end, the importance of a Blockchain Development Company can not be neglected in your ICO project.
Among the many blockchain developers available on the internet, identifying reliable ones can be tedious. Conducting an intense background check can save you from any unnecessary trouble.