The Way to Operate an ICO

What ICO Involves

The ICO presents a mechanism for fundraising where future tokens for cryptocurrency on Waves platform are traded for present liquid cryptocurrencies such as Waves, Ethereum and Bitcoin. You obtain bitcoins or a different currency when you exchange this for your token.

The economics of the token as well as integration into the product needs to be illustrated in detail in WhitePaper and on the website in advance.

To gain popularity of your token and motivate the investors to purchase it in the course of the ICO, you should utilize the token that is completely incorporated in the structure of the company.

Investors need to clearly comprehend the reason the token shall become valuable, together with your company success. The most ideal option is utilizing a token traded at the ICO, as an important part of your app or system.

Is ICO Ideal for your business?

To answer the above question, consider the following:

Why do you require blockchain tokens? Is blockchain necessary for your product? What blockchain technology benefits can your product experience?

In what way can you effectively connect a product to a blockchain token? Is it possible for you to assimilate it to your app?

How can you make your token interesting to investors? Does mechanism exist which connects its worth to your product’s success?

When you find out how ICO functions and the model that is most suitable for you, you can go to the project wrapping’s technical issues and matters.

Providing a blockchain token and having it listed on the exchange

Set up your wallet and remember to save a password and of utmost importance, a SEED term to reinstate the wallet.

Consider your project’s economics. Make a decision on the amount you desire to raise, the number of blockchain tokens you shall provide, the number you shall keep for the team and trade in the Pre-ICO (if you want to trade some tokens prior to the main ICO launch) as well as within the ICO. Decide beforehand whether you shall provide more tokens and in which circumstances.

Visit the section for ‘Token creation’ in Waves wallet and form your personal token. Prior to you providing the main token, you can form one for testing, to check it’s working. Avoid including your project name in the test token title, as two tokens that are similar will make your users confused, during the search.

According to your economics, set up sell orders for your token; this is to be exchanged for the most popular currency pairs. These are Bitcoin, Waves, EUR, USD and CNY ON DEX exchange in Waves wallet and therefore collect money for the project. A green tick is used to mark all the real currencies above. Be on the lookout for fake tokens.

Technically, the inclusion of the personal account of an investor to your website can provide an alternative to the technique of the distribution of your tokens through DEX. To advance it, you should get in touch with a specialized agency or search for contractors among Waves Platform community members in Slack.

When selecting this technique, you need to be aware that you should concentrate on the protection of the personal account being developed and handle the distribution of your tokens to investors following the finalization of the ICO in comparison to inputs of each of them.

You are now prepared for the ICO; however, you should effectively wrap the product as well as your concept prior to you beginning marketing.
Product Wrapping

It is certain that you shall require a website to drive an ICO campaign. This will turn into the key source of data regarding your product for prospective investors.

WhitePaper presents the main mechanism where fintech and blockchain technology is concerned, which enables to briefly define the technical features of the system being developed, therefore attracting the professionals as well as the whole society of fans and early adopters.

The standard qualities of promotion materials are not found in WhitePapers. They target professionals and opinion
leaders and experts who can comprehend the product’s technical essence. Their outlook and comprehension of
the product is crucial for its promotion.

The WhitePaper information needs to be split into parts and needs to consist of the description below:

  • Project essence, possibilities and roadmap
  • Importance of the project as well as market it works on
  • Team
  • Project economics and token

Promoting the ICO Campaign

Baseline activities that are necessary:

Formation of thread and administration

It is not possible to implement a qualitative interaction with a main audience for the traders, project, blockbuster fans, etc., without this action. Managing a BitcoinTalk thread offers direct communication with the target audience, facilitates answering queries, gets rid of uncertainties and links the audience to developers.

Announcing the campaign on Bitcointalk is very essential to the program. You shall obtain a lot of reviews. They might not all be positive, but they will assist you to enhance your project.

Managing Communities in Social Networks together with blog platform pages (Twitter, Medium and Facebook)
An effective ICO campaign needs full management of social networks and coverage of all news in a timely manner, mass media appearances and thorough campaign data in each of the accounts. Where Medium is concerned, you need to run a blog for the project, provide information regarding the project, ICO terms and conditions and your project possibilities and market. Additionally, Medium blogging platform provides a great area to Post the FAQ.

Community Organization and Talks in Slack and Telegram

Chats on Slack and Telegram present the most vital channels in community communication, since users are able to interact with the founders of the project, members of the team and one another here. These channels need to be monitored often and all queries put forward by users need to be answered in a timely manner, getting rid of incorrect guesses or unverified accusations.

Other Vital Activities

Bounty Campaign

This is an activity that inspires the users of your product for numerous marketing actions for your project so as to obtain a prize in tokens. Bounty is extremely vibrant and is inclusive of a Signature promotion on bitcointalk, management of bitcointalk local branches, social bounty, email subscription bounty and bounty for media and blog posts.