How to launch an ICO?
In the world of cryptocurrencies, an ICO is the initial offering to the public of an asset and, in this case, a crypto asset. The characteristic of this stage is that we can find the price of the token very low which is usually a good investment opportunity for many people.
Now we will share some steps with which we can launch our own ICO:
Step 1: Have an idea
Many currencies focus on small industries, creating blockchain solutions in preparation for Web 3.0, in others are simply looking to be a currency for others to invest in and trade.
So the first thing is to find out what it is we want to work on or the problem we want to solve.
Step 2: Assemble a project team
Assembling a team allows you to consult with people who are likely to be experts in many of the regions where you need information.
A strong team is a team that is prepared for all the adversities that may come in the stages ahead.
Step 3: Write a whitepaper
A whitepaper should state the currency’s problem, if any, and how it will solve the problem.
This is the book that will contain all the complete project information, this will be the first thing that serious investors will look for.
Step 4: Capable contracts
We have to generate our smart contract, in the base blockchain or open source that we will use, if you don’t taste how to do this in The Blue Manakin we can support you.
Step 5: Select a sales model for your coin.
Which one you choose may depend on several elements, including the location of your headquarters (as different countries have different rules about ICOs).
- Fixed-rate offering (Uncapped)
It will remain at a fixed price for a certain amount of time, from which time customers of the token will buy it at the market rate.
- Soft cap
The token creator institutes the minimum fundraising amount of the ICO and sets the price accordingly.
- Hard cap
The token creator sets the maximum amount of elementary capital.
- Hidden cap
Would keep key details secret until the public needs to taste them.
- Dutch auction
The price of a coin starts with the highest sale price.
- Reverse Dutch auction
There are a limited number of tokens and the number of tokens sold each day is divided equally over the duration of the ICO.
- Collect and return
There is a fixed price, but customers can bid above this fixed price.
- Dynamic cap
This prevents major investors from taking control of a large number of coins and gives smaller investors a chance.
Step 6: Market your ICO and coin
Before launching an ICO, the project must have significant interest for investors to buy a new coin.
Step 7: Finally, launch your ICO
To launch your ICO, apply to exchanges such as Coinbase, and Binance which are the most popular to integrate your ICO, but there are many more, the important thing is that it is a known exchange to raise the confidence of investors.
ICOs are the first side of our project so it is important to make sure you move forward with a good action plan, providing potential investors with the information they need and performperforming general due diligence.
At The Blue Manakin, we support you to create a whole strategy for your ICO to have the most successful launch possible, consult with us.