A whitepaper is a technical document that holds all the crucial information of a business that must include all the crucial information like your vision, mission, legal aspects, project details, roadmap, the team involved, etc. The success and failure of a business can be easily determined by the quality level of a whitepaper. So, a whitepaper should be drafted in a well-informed manner to get immense results.
Coming to the point, what might be the necessity behind drafting a whitepaper for an ICO? As I mentioned earlier, a whitepaper will personify your entire project. In that sense, a white paper is highly mandatory for an ICO project to attract potential investors to put funds into their project.
The core reason behind the ICO whitepaper’s prominence is that people started checking proofs instead of advertising.
Nobody will be ready to get fooled by something. Everyone started deeply analyzing and picking the best among the rest. Hence, it can be done only by drafting an exemplary whitepaper. Now, we shall discuss the mandatory things to be considered while designing a whitepaper and to make it a complete success.
To put it simply, just consider the below-mentioned parameters for building an outstanding ICO whitepaper.
Project Overview
I hope that you might have done a complete analysis and chosen the best business idea. That idea must be mentioned first in your whitepaper. Your ICO project’s idea must provide a key solution for a problem prevailing out there in the current crypto marketplace. Don’t replicate the existing idea. Think out of the box, feel like a user and their problems meanwhile, you can get a perfect idea.
Hence, mention the main problem and the key solution that your idea offers for the users in your ICO whitepaper.
Token Economy
An ICO cannot be thought of or else executed without a crypto token. So, a new crypto token has to be developed for proceeding with an ICO. The token that is created especially for ICO fundraising is addressed as a utility token. A utility token represents a value in terms of cryptocurrency similar to the value of a fiat currency. While speaking of Utility Token Development, can be created by various token standards like ERC20, TRC20, BEP20, etc. All the mentioned are fungible token standards as all the utility tokens are fungible. They can be swapped or interchanged with any other fungible tokens.
Hence, mention all your token names and the token standard you’ve chosen for your ICO token creation.
Token Distribution
Under this section, you’ve to mention all the details of your crypto token created. The following should be covered in this area like
- Token name
- Token symbol
- Total supply of tokens
- Your token development standard and the blockchain
- Decimal value
- Code of contract, etc
Mention all these necessary credentials of your crypto token created. You have to illustrate what is the initial supply of tokens you’re going to release, and the plans with your crypto token. Just mention the distribution plan of your ICO token.
Roadmap
This is the core factor where the investors will keep an eye on your ICO project. Roadmap is the pictorial representation that holds your next 10-14 months’ plan for what you’re going to work on. Fix your milestone and when you’ll achieve it. This will be an added advantage in attracting some potential investors. They’ll make a deep analysis of what you’ve mentioned in your roadmap. Analyze some existing and successful ICO projects to get an idea and draft a perfect roadmap for your ICO project. A trustful roadmap itself helps in attracting 60 -70% of the investors for your project.
Development Team
Mention the working team behind your ICO project and the blockchain developers for creating your ICO website. This team description includes the founder, chief executive officer, chief development officer, finance manager, employees, developers, designers, customers desk, business development team, ICO advisory team, etc. A short description of all the above-mentioned team members can be added to build trust among the investors. Add your team members’ skills and their field expertise. Your team description also plays a crucial role in attracting multiple investors.
Risk Factors
Mention the legal aspects of the ICO project including the jurisdictions involved in it. Define your company’s policies and the factors to be considered by the investors while participating in your ICO project. Analyze whether the Know Your Customer(KYC) and Anti-money Laundering (AML) are needed for the ICO launching nation. If it is yes, then make sure all those criteria are met.
Technical Info
As you might all know, ICO works on blockchain technology and the core material used for ICO is token creation. Those tokens are created with any of the token standards of eminent blockchains like Ethereum, Tron, BNB chain, Polygon, Solana, Waves, etc. You should mention the blockchain and the other parameters to be included regarding the technologies used for your ICO development.
Funding Allocation
This is also the core area that plays a major role in attracting investors. You have to mention the reason for raising funds and for what purpose you’re going to utilize it later. For instance, some startups will just possess an idea and they’ll initiate the fundraising process from the start. The other set of people will hold some funds but will initiate an ICO for the further development of their business. So, they will go with ICO to collect their remaining funds. So, mention the specific purpose of your fundraising so that the investors will be interested in putting the fund into it.
Draft your whitepaper by considering all the above-mentioned parameters in mind and you can make your ICO more successful. Creating an ICO whitepaper on your own is a bit of a complicated process as all the above-mentioned parameters have to be analyzed and mentioned properly. Hence, having a professional by your side will be the best option for creating your ICO whitepaper. In that sense, an ICO development company will help you both in ICO website development and whitepaper creation. There are multiple ICO development companies prevailing in the crypto ecosystem. But
Why Choose Icoclone for your ICO Whitepaper Development?
Icoclone is a high-rated ICO Development Company in the crypto space with multiple years of experience. We have a skilled and seasoned team of developers who excel in ICO development and can meet all the client’s requirements. Our trademark is our ICO script which we offer to our beloved clients across the globe. Our ICO script comes as a wholesome package that comprises an ICO whitepaper, ICO website, wallet, and ICO (utility) tokens. You can also draft a first-class ICO whitepaper alone with our Icoclone developers through which you can attract ample potential investors.
In that sense, you can create your ICO platform as well as your whitepaper effectively with us. Hence. Contact Icoclone to experience exemplary ICO services!!!
