Guide to ICOs in Tioga, LA

 

Overview of launching an Initial Coin Offering (ICO) in Tioga, Louisiana.

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

Disclaimer: This is not to be interpreted as financial investment or legal guidance, however rather meant as a template to show the process behind an ICO, and what a project’s stakeholders (team, board, stakeholders) need to think of when performing an ICO.

Provided the blockchain industry is reasonably brand-new, there isn’t a whole lot of information on the subject (from a task’s viewpoint), and with each new ICO, teams are finding out best practices on what to do and what not to do. Below is a guide of all of the details we collected about the ICO process, with input from people who experienced the procedure first hand.

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

Pre-planning

The greatest 2 questions you have to think of initially are:.

  • Exactly what is the purpose of the token?
  • Are you sure you want to do an ICO?

Token: Considerations for 

  • What is the function of the token?
  • What function or energy does it carry out?
  • Is the token absolutely essential?
  • Why does your task need to be on the blockchain?
  • Can you explain a viable economic design behind it?

If your application does not have to be built on top of a blockchain protocol, you need to concentrate before moving on. For instance, the computational expenses of developing an application on top of Ethereum is far more expensive than something like AWS. You have to have a strong reason for why you are developing a decentralized application vs. a central application.

If you are uncertain whether your application should be built on the blockchain or not, you should do more research and invest more time discovering Bitcoin and Ethereum. Building a decentralized application is essentially various than an application using client-server architecture, and you’ll need to fully understand the parts of a blockchain and exactly what can be built on top of this new architecture.

{ICO|Initial Coin Offerings in Tioga, LA 71477

An ICO is essentially different than raising money through VC’s or other traditional means.

On one-hand, you are selling future use of your platform (not giving up equity). On the other-hand, you are ending up being a public business on the first day. You’ll have a huge neighborhood you’ll have to handle post-ICO, and you have to ensure you wish to deal with this problem ahead of time.

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

  • Whatever you do and all the actions you take will be reflected in the price of the token.
  • Your group will get bombarded non-stop, multiple times a day, with concerns about the rate of your token.
    You’ll need to be a worldwide company from day one.
  • All your internal group conversations will likely be pressed openly.
  • There will be great tension in trying to develop things that are long-term important vs. short-term important.
  • If your item isn’t open sourced already, there will be a big reaction to become entirely open sourced. There is a strong expectation that many blockchain jobs are open-sourced projects.
  • In general, cryptocurrency projects are way more public/transparent than common startups, and even standard public companies.

In general, excellent blockchain jobs look and function far more like open-sourced software jobs vs. standard tech companies. You and your team will need to decide both whether your application makes good sense to be built on a blockchain + you want to run as a transparent and open business.

Marketing is insufficient, people need to understand and trust your abilities.

A number of these early ICO’s were performed by deep stack blockchain developers that became part of the core crypto community, with high credibility and track record. The ICOs that sold out quick and quick did not come out of thin air. Early token investors– who by the way were also part of the core crypto community– knew these designers well, and trusted them, as their respective product idea had been gone over and peer evaluated for numerous months over Reddit, Twitter, Slack, Bitcoin Talk, different crypto podcasts, etc.


Whitepaper

White papers are business plans of the Web3 with which teams try to raise your funds, frequently before having a prototype. Composing an excellent whitepaper is the primary job for each team. Avoid contracting out the writing to 3rd parties. If you want people to take you seriously, you have to involve the entire group: from core devs to your sales individuals. You need a semi-technical explanation of how your task works and an easy to understand walk through for non-techies. The whitepaper must be appealing to financiers without any technical knowledge and developers alike. It needs to consist of:.

Reputable technical roadmap.
Possible company roadmap.
Clear tokendistribution model.
You can take your effort one step even more and launch a technical paper like the Ethereum’s Yellow paper or Zcash’s technical whitepaper. These papers give a further insight into the technical implementation and are just targeted at people with deep understanding of blockchain innovation. They give more trustworthiness to your tech know how, and allow for online swarm review. Technical documents have up until now mainly been used for blockchain token sales and not for dApps token sales.

Prototype – Tioga LA 71477

You will be more reliable if you already have a product prototype. Motivate people to visit your GitHub page and have fun with the code. Please note, projects 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– just utilizing examples here– you may have problems raising money only with a white paper.