How do you prepare yourself to launch the IEO
If you are considering to launch IEO for anything, be it to gain knowledge, to raise funds, to explore the domain, you are on the right page. Your answer is right here. This blog will walk you through a lot of things that you may be discovering for the first time, some that you already know and a whole lot relevant to launching IEO – Initial Exchange Offering.
What facts say?
Though the facts say ICOs are declining these days, it is important to recognize that the complete idea of IEO originated from ICO. But what caused its decline? Too many loopholes for the scammers? Is that the only reason? Nope. Loopholes for scammers is just one main thing of all the rest.
Before IEO became mainstream, a lot of work was done to make sure it gave security and access to the trusted people alone. This was done keeping in mind, the easy feasibility that ICOs provide which was a threat to the investors’ money and credentials.
How do IEO and ICO differ from each other?
Let’s jump into the similarities and differences between IEO and ICO.
ICO functions on the same idea of standard crowdfunding. Except for the fact that fiat currencies are replaced with cryptocurrencies. It is open to anyone who has an internet connection and some cryptos in their wallet. You do have to do some KYC and AML formalities, but they are not as strict as in IEO.
Unlike how ICOs are open to anyone to buy tokens, IEOs are restricted to people who hold an account with the exchange platforms. So, no matter what you are going to do on the exchange platform, buy tokens or sell them as the developer, you need to complete KYC procedures.
When you launch an ICO, as a token developer, you will have to list the token on the exchange listings and then market it all by yourself. However, it is much easier when it comes to IEO. You only have to pass certain questions that the exchange platform gives you along with your Minimum Viable Product (MVP).
Now, here is the long-awaited part. How do you prepare yourself to launch the IEO?
Develop a Minimum Viable Product
If success is your prime target, then it is essential that you develop a demo product. Investors who are seeking to fund your project are more likely to give a positive nod if they can look, see, try and realize what your product is like. The proof of concept is important here. Having a functional prototype gives you a chance to win over the potential candidates who will bankroll you.
In case you are unable to produce a product demo, you should be prepared with an elaborate explanation of your project’s functionalities, aims, motto, and every minute detail.
Having an MVP will help you get quick approval from both the exchange and the investors.
Build an effective team
When it comes to victory it is more ‘we’ than ‘me’. Make sure to build a strong team and not to compromise the best talents for cheap wages. Most of the leading exchanges ask details about your team members too when they evaluate your project.
Have a strong whitepaper
Your white paper is like a business proposal to the buyers. Whether they will choose to invest or not will completely depend on how you present and how reliable it is going to be. There are a lot of guidelines o how to write a white paper if you are new to it.
Keep your funding goals clear
Make sure you keep your funding goals clear. It is important because this has an impact on how the investors value you. If your goals aren’t clear and sharp, your project will be assumed as a vague one.
Marketing is important
In IEO, the exchanges take care of marketing your tokens. However, it is equally important that you put in your effort as well. Yes. This will give you confidence and increase the reach of your coins among the prospective buyers or investors.
If you are from the coin developers’ side, you might as well ask the same crew to refer to a marketing team or firm that could help you. Or on the other hand lies the known solution – Google it.
It is also significant that you market it prior to talking with the exchanges as this will increase your chance of getting through.
Keep your press releases coming periodically. The people in the crypto community will constantly stay informed about your tokens and it is one way to establish your expertise in the field.
You can figure out the websites that allow guest posts to publish your press releases. However, we have given you a list of websites that let you publish with no cost.
Make the most of Social Media
Social media is another tool to make people talk, discuss and finally buy your tokens. Engage with the audience, build groups and keep posting updates and conversing with them.
Social media helps you influence your audience subconsciously with minimal effort. It is up to you to make the best use of it.
Select the best Exchange for your IEO Launch
The most important matter to consider when choosing an exchange is user-base. The larger the user-base, the more chances of success. If you are approaching a smaller exchange platform make sure to back up your project with strong MVP, marketing and highly skilled team.
We have a list of exchanges for you to have a look if you are considering to launch an IEO any sooner.
It is about launch IEO tokens on your desired exchange platform. However, keep in mind that you may not always get to list your tokens on the exchange platform you choose. There is nothing wrong in trying though. Keep trying until you succeed. May the odds be ever in your favor.
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