Much of the decision-making of whether you should join in an ICO project or not depends on the whitepaper. Almost every ICO has a whitepaper, and the participants rely on various information that can be found exactly in the ICO Whitepaper.
The Whitepaper is a document that contains all important information about an ICO project — it is actually the business plan for the company. This document outlines everything you have to know about the project — its product, structure, mission, benefits, team, roadmap, future plans, etc. The whitepaper is a very important document because if it is properly written, the ICO project can gain a lot of participants and contributors.
But, with the lots of new ICOs being launched every month, how can you know which ICO is the right for you depending on the whitepaper?
Here are some important things that each whitepaper should have.
When was the company established? What does it do? How long has the company been in operation? Does it have any products? Where is the company located? How can the company prove that their product is not a scam?
What kind of product is the company planning to launch? Is there a proper description of the product? How long will the product development take? What’s your personal take on it? Is it safe and secure? Has the product been launched? If not, why not?
Who is working in the company on this product? Is the team capable of doing an ICO? Do the team members have some verifiable profiles on LinkedIn or some other social media channel? Does the company have proper blockchain advisors?
What are the target users of the product? Why? What benefits does the product deliver to the target users?
Problem vs. Solution
What problem is the company planning to solve? How many people are dealing with it? Is their solution a unique, workable solution?
Competition in the market
Is there any competition in the market? How does the company plan to differ to the competition?
What value does the token has? Can it be traded for something? What will the company do to increase the value to the token? What rights does ownership of the token give to the holder? How does the token differ from the other tokens?
Is it explained how the token distribution will be accomplished? Are the tokens for the team properly distributed?
Can the roadmap be achieved in the specified timeline? Are the dates in the roadmap realistic?
Use of funds
How will the funds from the ICO be used? Are all parties included in the allocation of the funds?
Terms and conditions
What are the terms and conditions of the company?
Diagrams and statistics
Are the diagrams and statistics real? What sources did the company used for them?
If these things are well explained, the ICO has a potential to be successful with many participants. The Whitepaper has to impress the reader, so do your best and include and explain everything important about your ICO project!
Our company Energy Premier has developed a blockchain-based electricity trading platform for faster, cheaper, and safer electricity trading. We are currently launching a pre-sale and an ICO that will start at September 21st. Our mission is to be the first platform that gives direct access to the energy market for all suppliers and consumers of electricity.
Interested? Don’t miss our ICO and get whitelisted now!
Click below and read our Whitepaper:
Thank you for reading!