The mechanics of an ICO - how to do a crowdsale

How do you do a crowdsale, or raise an ICO?

  1. Get your whitepaper written and reviewed by a legal entity, such as the Blockchain Advisory Council, or the Lex Futurus Group.
  2. Setup a website, and provide links to the whitepaper.
  3. List the team members.
  4. Provide link to your Ethereum ICO address.
  5. Setup social media accounts, eg, Instagram, Facebook, Telegram, Google Plus, Twitter and get them manned, so as to build a community.

The modern crowdsale strategy is an ICO with whitelists (optional), multiple tiers, and limits, and to set up the ICO, the following information is required.

Here's the information you'll need to provide for a token that you want:

  1. Name of token: What do you want to call your token?
  2. Ticker: a 3-5 letter ticker that will represent your token forever.
  3. Decimals: Ranging from 0 to 18, this refers to how divisible your token will be.
  4. Reserved tokens: reserve tokens for employees, partners, investors, etc.
  5. Wallet address: Where the ETH goes after investors send you their ether.
  6. Minimum cap: Is there a minimum amount of tokens to buy for every investor?
  7. How many tiers are there? pre-crowdsale, crowdsale, etc.
  8. When do you want to start, and end (date/time) each tier?
  9. The exchange rate: tokens to ETH, so if you want 1000 tokens to 1 ETH, the exchange rate is 1000.
  10. Supply of token: How many tokens do you want to sell for this tier?

Repeat 4 to 10 for each tier.

Published Mon, 19 Feb 2018 @ 2:31 PM by chuacw
Related articles: