Topic: How to start an successful ico - page 10. (Read 5665 times)

Make sure your website is secure, i.e don't get 'hacked', if you are looking for people to send you ETH or BTC make sure your address doesn't change on your homepage.

Hello!

I would be interested in stories about ico's that didn't work out. (Maybe the project it self had great potential)



What are the main reasons why an ico can become unsuccessful?



On what ico startups need to watch out before they go live?



The theory about ico's is perfectly clear to me, but like with everything in life, theory is one thing and real experience the other. I do believe that failures are a very good sources to learn from. My personal experience is that in many cases people do learn more from failure examples than from success examples.


I ask for unsuccessful ico stories because my company will soon launch an ico for our 2 projects: https://bitcointalksearch.org/topic/m.21279456 and I would like to avoid "mistakes" that could possible turn out to be unsucessful.


>>> ICO starting tips:
(*List made by community members)

- Be aware before creating an ico, with the only intention to fund another shittcoin, you lower common peoples trust in crypto and you damage the hole ecosystem!
- Make sure your website is secure, i.e don't get 'hacked'
- Make sure your ETH or BTC address doesn't change on your homepage
- You should have a good design
- Detailed whitepaper
- List of team members with their previous projects and social profiles
- If you distribute tokens through web or client software, make sure that those products are rock solid and secured against possible threats
- You should recruit some people who have been popular in this forum for your ICO team
- You must have a fund for first development
- Create a detailed roadmap too, and don't delay it
- Always provide a working and secure product
- Do not focus only on getting fund
- Keep in touch with the investors even you were busy you should provide an announcement of progress. In the ICO Thread and in social medias.
- Choose the right time, because there's a lot of ICO going on every day, is it because of competition
- Ad a pitch deck that will define your business and revenue model to the white paper
- Give details about possible profit
- It will be very interesting for investors if you can show documents or some evidence that your coin will be listed on major exchange immediately after the ICO finish
- Make benchmark analyses of other ico's
- Inform yourself about legal situation (i.e. US citizens regulation)
- Determine the total supply of coins (initial / final) and then stick to it. Don't change the supply in future.
- Inform about pre-mining or any funds reserved by the development team / company
- The coin should have a successful coin exchanger registration
- If you need pre-ico investment offer at least 1 investment security method like escrow + muli-sign
- Make a clear statement what will happen to the collected funds if the ico does not succeed. Refund? Keep the funds?
- List all your projects that you have delivered previously, if any.
- Announcement about the ICO/pre-ICO should be publicize at least a week before the scheduled ICO/pre-ICO
- Compile with local laws /if any (China example)
- Prepare agreements to list the coin at exchanges and communicate any listing done
-Write HOW tokens relate to the project (only speculative, or a security)