Initial Coin Offerings (ICO) have generated the most anticipation and attention in the realm of cryptocurrencies. Since 2015, bitcoin investors have monitored the ICO development market intently to identify the next 10x or 100x opportunity. Between August 2015 and December 2017, the ICO market experienced remarkable growth. According to reports, nearly half of the initial coin offerings (ICOs) held in 2017, and 2018 failed to raise a single dollar.

7 Easy Steps to Determine an Ico’s Success

An ICO is more likely to succeed if it offers investors sufficient information. It has a pre-ICO GitHub repository, plans a presale, avoids offering bonus schemes, has shorter token sale durations, and has a public team, according to the research of 630 successful ICOs between 2015 and 2017. Despite this, several ICOs have failed because the following ICO guidelines were not followed:

Rule #1: ICO Team, Strategy, and Research

Before generating an initial coin, it is necessary to investigate and comprehend market needs. Advisors, IT developers, and business developers on your team will use this information to design the business model. Once the idea has been finalised, it is essential to engage with specialists to evaluate its practicality and adopt their suggestions.

Once the business plan is in place, it is vital to collaborate with developers to design a feasible road map. You should keep the following in mind while you disassemble it:

• Your team should be large and highly qualified to deliver per the roadmap.
• You must have adequate funds to pay the expense of the ICO’s development phases.
• Investors closely examine how frequently your team contributes code to open-source repositories such as GitHub. Therefore, it is essential to have a realistic and well-considered plan in place.

Rule #2: Publication of a Whitepaper

The whitepaper is an investor’s first stop when considering an ICO for investment. Ensure that you have a 25–30 page whitepaper online at the outset of the ICO development phase that answers the following investor questions:

• What problem does your project intend to solve?
• How large is the market for the problem that your project addresses?
• What solution does your project propose?
• What components of your project are technical and which are not?
• Timeline and project roadmap
• Details concerning the team and the advisor
• Extensive tokenomics

Your whitepaper should ideally be hosted on a project website. This boosts the confidence of investors in your enterprise.

Rule #3: Proper Tokenomics

This is the most challenging component of initial currency development. The following are some critical points to keep in mind:

Choose the Caps

Soft and hard caps define your ICO’s minimum and maximum funding requirements. These caps must be established before the launch of the ICO offering, and once attained, they can be highlighted in the ICO’s success. In the case of concealed caps, investors will not know the exact capitalization before the conclusion of the ICO offering and allocation.

Check the Caps Status

You must decide whether to place a cap on the number of ICO participants or the total amount raised during the ICO. The number of tokens may not be limited, and the ICO will function on a first-come, first-served basis.

ICO offering for a Dutch Auction

A smart contract can determine the token pricing based on the submitted bids. The smart contract prioritizes the highest recommendations, and the sale is terminated once the caps are met.

Rule #4: Smart Contract Development

To guarantee the fairness of the ICO offering, you must implement a smart contract that enables investors to manage, transfer, and sell tokens. This smart contract must be associated with your token wallet and undergo an internal and external audit.

Rule #5: Digital Wallet Development

Before participating in an ICO, you must have your digital wallet.

Rule #6: Post-Sale Monitoring

After the ICO has concluded, you must maintain vigilance over post-sale monitoring. This necessitates a navigator that informs investors of the vesting schedules and dates. After the lock-up period expires, investors must access 24-hour trade volumes and additional data.

Rule #7: Exchange Listing

Listing tokens on tier 1 and tier 2 exchanges is crucial for increasing token circulation. If there are insufficient listings or trading pairs, it will be difficult for ICO investors to trade tokens, which is not a positive sign.

Suffescom Solutions, Ico Development Company, uses its experience in ICO development services to ensure compliance with all applicable rules. To ensure the success of your ICO, we offer comprehensive services spanning from producing tokens and smart contracts to white papers and marketing campaigns.

Email

Patricia Smith

Patricia Smith

An experienced content writer & strategist with hands-on knowledge about technical and non-technical content and expertise in crafting content that creates value for the user.