A token launch, or token generation event, is a brilliant way to raise capital and create a community around your crypto project. Understanding how to create a token generation event could give you a hint on how crypto projects are crowdfunded.
Steps To Follow For Token Generation Event
In this article, we will touch on various strategies that one needs to implement to successfully host a token launch. So let’s get started.
1. Whitepaper
The whitepaper is one of the most important aspects of your crypto project. Based on how solid and well-thought your whitepaper is, you will attract investors, team members, advisors, and key partners.
Before creating a whitepaper, study the crypto market and discover a real problem that needs a solution, figure out a product and business model that could rectify the problem, and then outline its tokenomics.
2. Team
A strong team backing the project is essential. You will need your team members to be committed, determined, and fully living the vision of your project. It is ideal to have a team that is covered in different areas of expertise and experienced in the field the project is working.
3. Prototype
A working prototype will give the impression that you are serious about your project. It also shows potential investors that you have done the work necessary, invested time and money, and went out to explore the UX and use case scenarios.
The best possible scenario here would be a fully working and already live product.
Related Readings: Exploring Blockchain Technology: How It Works and Its Potential Applications
4. Landing Page
The first thing anyone is going to ask you after you tell them that you are doing an initial coin offering is for your website. So make sure that it is functioning and well designed. It is important to include whitelisting, tracker, whitepaper, prototype demo, and team and advisors sections on the website to make it more appealing and trusted by visitors.
5. Legal Documents
Here are some of the legal documents that you will need to launch a token generation event:
- SAFT Agreement
- Terms and Conditions
- Privacy Policy
- Disclaimer
- Legal Opinion About The Token
- Best Jurisdictions For Legal Entity Incorporation
- Advisory Agreements
- Partnership and Employment Agreements
6. Incorporation and Payments
Choosing the right jurisdiction for your project’s legal entity and bank account is vital to knowing how to manage your crypto assets. You must be willing to abide by rules that will ensure a legitimate outlook for your project and also avoid legal problems in the future.
Related Readings: How To Check Liquidity Of Crypto Coins: A Beginner’s Guide
7. Marketing Strategies
Here are a few marketing strategies that you could incorporate to launch a successful token generation campaign:
- Develop communities on social media platforms like Twitter (X), Discord, or Telegram
- Host Airdrops and bounties
- Publish your token on sales review and rating websites
- Collaborate with crypto influencers
- Create and distribute content
- Forum services
- Create email whitelists
8. Exchange Listing
Planning where to list your token before launch is key. So make sure to start researching exchange listing options and establish good relationships with all possible centralized and decentralized exchanges.
9. Fundraising
The technical aspects of private, pre-sale, and public-sale tokens should be well looked into. Keep an eye on token minting metrics, and distribution of smart contracts on your linked blockchain, conduct security audits of the network, and create a dashboard for token holders on your website.
Make sure you get the funds safely, distribute the tokens properly, and put the project’s and investor’s interests first. If you can’t get the job done by yourself, hire a reliable and efficient system to take care of the token sale and distribution.
