How to Launch an ICO? - The Definitive Guide for 2024

An ICO, or initial coin offering, is the best way to launch a crypto project. It allows businesses to sell a percentage of their coins and raise funds through investors.

Launching an ICO is an easy and quick way to raise funds for your project. However, there’s more than what you would have expected. It is technically complicated, difficult to market, and riskier due to several cryptographic regulations.

In this blog, you’ll find a definitive guide on how to launch an ICO. But before that, let’s start with some of the basics!

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What is an ICO?

Initial Coin Offering, or ICO, is one of the popular fundraising methods that involves selling cryptocurrencies and raising funds for crypto and blockchain projects. Businesses can either raise funds themselves or get help from an ICO development company.

The types of ICO tokens are:

• Private ICO: It allows only a limited number of investors to attend the fundraising. Also, only net-worth personalities or financial institutions can participate in the ICO process.
• Public ICO: It doesn’t restrict people; everyone can participate in the public ICO process.

Steps for ICO Development

Step 1: Draft a Whitepaper

A whitepaper lays out the technical information and rationale behind your project. It is the most important piece of documentation from a technical and marketing standpoint. Thus, you must leave no stone unturned while writing on white paper. Also, it will be scrutinized by the investors who will be willing to contribute to the project.

Step 2: Define tokenomics

Tokenomics is like a property that investors research before investing. They check if your token is hardcapped or inflationary, the percentage of tokens allocated to the development team and early investors, and the cliff period and vesting period. These play an important role, and they directly impact the market price of the token.

Step 3: Ensure Legal Compliance

Legal compliance is another crucial step, and if you tend to ignore it, the authorities will be sooner or later knocking on your door. Thus, while planning to launch an ICO, ensure that you prioritise legal compliance so that you are protected against any uncertain regulatory landscape regarding token sales.

Step 4: Select the Right Blockchain

There are several blockchain networks, including Ethereum, Polygon, Solana, BSC, and more. Choose the best out of the pool according to your requirements. Ensure that you consider their transaction speed and gas price while making a decision.

Step 5: Create Smart Contracts

To develop and launch a successful ICO, it is crucial to develop a smart contract. If you have chosen Ethereum as your blockchain network, you can use the ERC20 token standard for creating smart tokens. Additionally, if you’ve hired a team of developers, creating a smart contract won’t be an issue.

Step 6: Conduct Auditing

Auditing will fix all the vulnerabilities. Thus, ensure that you audit your smart contract before deploying it to the mainnet. This is especially crucial if the smart contract is developed for the ICO. You can reach out to professional auditing firms for the auditing process.

Step 7: Launch your ICO

Lastly, your ICO will be on the mainnet after ensuring that it is free from all errors, vulnerabilities, and bugs.

Conclusion

Now that you are aware of this, you can launch an ICO and hopefully be encouraged to pursue your project.

Many businesses, often startups, need help with the ICO development process and launch. In that case, Coin Developer India is here to help! It is the best ICO development company in India that can help you launch a successful ICO.

Reach out to them today!

Contact At: +91 7014607737