ICOs are now a huge part of the crypto landscape. So many are appearing each day that it is impossible to keep up now.
My original article on how I find ICOs is almost antiquated even though it is less that 2 months old. While I still glance through lists it is hard to identify how I actually find them, perhaps I should keep a record (that is way too sensible).
When I do find a project I am interested in these are the questions I am looking for you to answer and in this order. Now, you might not answer them all, but someone will take a look and try to. I’m just going to give you brownie points if you don’t make me hunt it all down – that’s not to say I won’t cross check 😉
- What is the aim of your project?
- What benefits does the Blockchain bring to the project? Why is it the most appropriate solution?
- Why does it need it’s own token? Why can’t it just use Ethereum or another token for payment – or maybe just credit card would be best?
- Do you have a product/prototype/just a white paper?
- Who’s on the team?
- Who are your advisors? Why are they your advisors? Are they investing?
- How much have your team invested in time and money?
- How much is your token sale aiming to raise?
- What are you planning to spend it on and why is that reasonable for this stage of the project?
- How does your sale rank you with the other ICOs in the last, say, 6 months? (You might as well say as someone will do it anyway)
- What is your soft cap and hard cap? If there is a big difference, what are you going to do differently if you exceed the soft cap?
- What is the structure of your funding?
- What is the total number of tokens being minted?
- How much was raised in a private placing?
- How much is offered in the pre-sale?
- How long is the pre-sale?
- How much is offered in the pre-sale?
- Actually, why are you doing a pre-sale?
- How much is offered in the ICO?
- What happens to the tokens not sold in the pre-sale/ICO?
That’s your dozen (see what I did on Q12?) for starters!
There are a lot of questions, but there again you are looking at raising a lot of money.
