Geography does play a significant role in setting up an ICO as different countries have different policies toward running them. Countries that appear on the ICO-friendly lists are:
- Switzerland
- Singapore
- Hong Kong
- Lichtenstein
- The British Virgin Islands
- The Cayman Islands
Take a look at Dr. Andreas Glarner, a partner at the MME Crypto Team, as he sums up the ICO regulations in Switzerland:
It’s worth mentioning that if you offer tokens to US residents, this automatically makes you subject to the SEC regulations. Double-check that you afghanistan phone number data clearly communicate the purpose of your token. In particular, you might want to avoid calling it security or promise high returns on investment, which flags a token for an inspection right away. Apply a Howey Test to check if your token belongs to securities.
3. Get the Team & Advisors Board Together
Building a skilled team is a self-explanatory must during ICO development. Founders can take it only as far as the team can run: someone needs to develop the product; other team members will work on marketing, providing support to your community, etc.
Besides the core team, you will need advisors. While not everybody can get Ethereum founders on their board of advisors, you should remember that Vitalik was publishing his white paper once too.
Ideally, one of your advisors will have a law degree and some experience in assisting other ICOs. If not, do get a contract lawyer working with securities to make sure you are complying with KYC and AML legislation.
Your Focus with the Team
- Engineers with proven experience in the web: save time and use ai to manage your tabs blockchain and smart contract technologies who will build out your product
- Growth hackers for business development
- Transparent and cohesive team members’ CVs, LinkedIn profiles
- Contributions to the open-source community is always a plus
Your Focus with Advisors
- Cryptocurrency experts
- Industry experts, e.g., in insurance, finance, etc. — depending on your product
- Public figures with an impeccable reputation
- Founders of successful ICOs
4. Prepare Product Roadmap
Your product is the main reason you plan to bz lists launch an ICO, remember? A clearly articulated product roadmap with a cost breakdown helps with establishing an image of a promising ICO.
As a result of market saturation, crypto investors perform proper due diligence before buying tokens. Savvy investors will check how often your dev team commits code to GitHub or other source code repositories.
At the same time, some projects, especially those aiming at developing new blockchains, require substantial funding even for the MVP phase. This is because there is clearly a cost to developing an MVP.
If you don’t yet have an MVP, a product roadmap is especially crucial. What it can do in such cases is show a founder’s ability to take his or her vision and turn it into a revenue-generating product, through a clearly defined set of steps.