Guide to ICOs in Hampden, MA

 

Guide to introducing an Initial Coin Offering (ICO) in Hampden, Massachusetts.

There has been a lot of confusion on what an initial coin offering is (ICO– likewise sometimes called a token generation occasion or token sale), what type of business an ICO can be used for, and exactly what enters into launching an ICO– from a job’s point of view.

Disclaimer: This is not to be interpreted as investment or legal recommendations, but rather implied as a design template to reveal the process behind an ICO, and exactly what a task’s stakeholders (team, board, stakeholders) need to think about when carrying out an ICO.

Offered the blockchain industry is reasonably brand-new, there isn’t a whole lot of info on the subject (from a project’s perspective), and with each brand-new ICO, teams are learning best practices on what to do and exactly what not to do. Below is a guide of all of the information we gathered about the ICO process, with input from people who experienced the process first hand.

If you want to add to this guide, or have any suggestions, don’t hesitate to make recommendations here:.

Pre-planning

The most significant 2 concerns you need to think of first are:.

  • What is the purpose of the token?
  • Are you sure you wish to do an ICO?

Token: Considerations for 

  • Exactly what is the function of the token?
  • What function or utility does it perform?
  • Is the token definitely essential?
  • Why does your project have to be on the blockchain?
  • Can you describe a feasible economic design behind it?

If your application doesn’t have to be built on top of a blockchain procedure, you ought to think hard before progressing. For instance, the computational expenses of building an application on top of Ethereum is much more pricey than something like AWS. You have to have a strong factor for why you are building a decentralized application vs. a centralized application.

If you are unsure whether your application should be built on the blockchain or not, you must do more research and invest more time finding out about Bitcoin and Ethereum. Building a decentralized application is basically different than an application using client-server architecture, and you’ll need to totally comprehend the parts of a blockchain and what can be built on top of this brand-new architecture.

{ICO|Initial Coin Offerings in Hampden, MA 01036

An ICO is basically various than raising money through VC’s or other traditional ways.

On one-hand, you are selling future usage of your platform (not giving up equity). On the other-hand, you are becoming a public business on the first day. You’ll have a big neighborhood you’ll have to handle post-ICO, and you need to make sure you wish to deal with this burden in advance.

Here are a few things to keep in mind while analyzing whether your project needs to do an ICO in the first place:.

  • Everything you do and all the actions you take will be shown in the cost of the token.
  • Your group will get bombarded non-stop, several times a day, with concerns about the cost of your token.
    You’ll need to be a worldwide business from day one.
  • All of your internal team discussions will likely be pushed publicly.
  • There will be excellent stress in trying to construct things that are long-lasting valuable vs. short-term valuable.
  • If your product isn’t really open sourced currently, there will be a huge reaction to become entirely open sourced. There is a strong expectation that numerous blockchain projects are open-sourced tasks.
  • In general, cryptocurrency projects are way more public/transparent than common startups, or perhaps conventional public companies.

In general, good blockchain tasks look and work much more like open-sourced software jobs vs. traditional tech services. You and your team will have to choose both whether your application makes good sense to be built on a blockchain + you wish to run as a transparent and open company.

Marketing is inadequate, individuals need to know and trust your abilities.

Much of these early ICO’s were conducted by deep stack blockchain designers that belonged to the core crypto neighborhood, with high track record and performance history. The ICOs that sold out fast and fast did not come out of thin air. Early token financiers– who by the way were also part of the core crypto community– knew these developers well, and trusted them, as their respective product idea had been discussed and peer evaluated for lots of months over Reddit, Twitter, Slack, Bitcoin Talk, various crypto podcasts, etc.


Whitepaper

White documents are the business strategies of the Web3 with which groups attempt to raise your funds, often prior to having a prototype. Writing a good whitepaper is the primary job for every team. Prevent outsourcing the writing to third parties. If you desire individuals to take you seriously, you need to involve the entire team: from core devs to your sales people. You need a semi-technical description of how your project works and an easy to understand walk through for non-techies. The whitepaper should be interesting investors with no technical knowledge and developers alike. It has to consist of:.

Credible technical roadmap.
Possible company roadmap.
Clear tokendistribution model.
You can take your effort one step further and release a technical paper like the Ethereum’s Yellow paper or Zcash’s technical whitepaper. These documents provide a further insight into the technical execution and are only focused on people with deep understanding of blockchain innovation. They give more reliability to your tech understand how, and allow for online swarm review. Technical papers have up until now generally been used for blockchain token sales and not for dApps token sales.

Prototype – Hampden MA 01036

You will be more reliable if you currently have a product prototype. Encourage individuals to visit your GitHub page and play with the code. Please note, jobs without a single line of code raise lots of red flags in the eyes of financiers. If your name is not Vitalk Buterin or Gavin Wood– simply using examples here– you might have issues raising money just with a white paper.