We go over our top suggestions for establishing a successful IDO launchpad development, fresh from our launch on Polygon.
If you're considering launching on Polygon or one of our other supported blockchains and you think your project has potential, listen our advise and watch it develop.
But con artists beware—you can't con a powerful, well-organized community. If you really want to succeed, create a strong project from the ground up since Starter gives its users the tools to identify the truly promising initiatives from the crowd.
Here are our best advices:
Effective Token Economics
It may seem apparent, but token economics is the way every IDO survives and fails. If the tokenomics aren't created to build demand, your product won't get off the ground even if you have a terrific, ground-breaking idea, brilliant marketing materials, and a ready-made market.
You must make sure your plans for development and expansion are adequately supported, just like any new business, but you cannot rely entirely on your community to provide all of the necessary finances.
A public IDO should not be used to try to generate excessive amounts of money. This will send up a lot of red lights and eventually appear to be a money grab. Generally speaking, public IDOs shouldn't cost more than $250,000 USD. This may be considerably less during a bear market.
Your market cap should be planned to start out low to pique curiosity and offer prospective growth. In order to avoid encouraging a dump on listing, your listing price should be slightly less than your IDO pricing.
The most effective IDOs maintain token scarcity; however, there must be a careful balance between how many tokens are sold in an IDO and how many participants are allowed. If tokens are too scarce, investors will want to hang onto what they already have, leaving others out of the IDO.
The token price will soar if you strike the right mix between generating enough financing during IDO and ensuring that many people still want to buy in upon listing. "Green Candles on listing" should generate interest in your idea and cause FOMO among potential investors, enticing them to back and support it.
Creative Marketing
Without aggressive FOMO and demand generation through your marketing channels, tokenomics alone cannot guarantee a successful IDO and listing.
The majority of the time, a project will live up to the positive buzz around it, at least for the IDO itself. However, being present on the proper channels and targeting the correct demographic with consistent, well-planned brand messaging are more important than simply shouting the loudest.
One of our more recent IDOs, Cake Monster, is a great illustration of this. It has a beautiful and well-considered brand identity and marketing message: cake.monster and went on to accomplish a 21x within 24 hours of listing.
This essentially means being present on the major sites for cryptocurrencies, such as Twitter, Telegram, Reddit, 4chan, Medium, etc. It entails being prepared with excellent information, such as a polished deck, articles, and videos.
We've observed projects go from zero to hero in a flash in the past using different methods like enlisting influencers and deploying guerrilla marketing stunts to make a big statement.
But when done correctly, these techniques and how they are carried out are always well thought out. Anyone can create engaging content; the trick is getting it in front of the proper audience and making it relevant to each person. Understanding your audience (your investor) is crucial, to put it briefly.
Every project has a different audience, therefore to some extent your success depends on it being special and appealing to a certain demographic or group.
In either case, everything else should be based on this core audience. This includes your branding, who you associate with, the partnerships you form, your logo, tone of voice, the platforms you choose to be active on, etc. An audience may already be pre-built into your project (if the market is an obvious niche or demographic), or it may be more difficult to discern. When you know who your audience is, you can communicate with them successfully.
Truthful Community Building
Developing a true, deeper sense of community with your audience after you start to reach them with marketing materials is crucial.
You will have the full support of your community, who will promote the project for free through word-of-mouth recommendations.
There is a ton of noise and competition from a wide variety of content out there. Although the word "community" is frequently used, true community formation is harder to come by.
Whether it be through gamification, awards, or AMAs, you need to consider what your community has in common and create the ideal circumstances to get people to participate. The key to this is encouraging a feeling of the collective.
However, if your sense of community is strong and you have a dedicated following of inactive supporters, that won't help you much. This is why it is not recommended to use a free "Airdrop" to develop a community. Even while it might increase your Telegram and Twitter follower count, many so-called "Airdrop Hunters" have little spare time, which is why they search for free "Airdrops" to participate in.
You need qualified investors to get started, and locating this group and keeping them interested is the secret to every successful venture, whether it deals with cryptocurrencies or not.
Post-Listing Approach
If you think you'll put in the effort to create a successful IDO launchpad like BSCpad and then ride off into the sunset while your project becomes stronger and stronger on its own, you're in the wrong line of employment.
Planning for life after the IDO must begin right away. The time immediately following the IDO is a crucial window since the world of cryptocurrency develops quickly. All eyes are on your project to see if it can maintain its monumental rise or if it will join the long list of promised endeavors that never materialized.
Your foot needs to be firmly on the gas pedal if you want to avoid the latter group of folks, who are known for fast turning against the flavor of the month.
Your product, dapp, or mainnet must go live at the conclusion of your IDO, or very soon thereafter, to have the best chance of success.
Post-launch If your project starts to lose steam in the early going, it is quite improbable that it will ever recover. Timing might be unlucky, but with careful planning, you can also create your own luck. Everything you set in place prior to launch will support you, including your marketing strategy, product plan, and community. These things will enable you to make the ongoing displays of strength required to survive and prosper.
You must ask yourself the challenging questions that will pay off later in your original product development, way before your IDO: Is there a real, viable market for this project? Does this token actually have a purpose? Even if I don't raise much money at IDO, will I have enough money to support a launch?
You can be sure mass-dumping will be prevented only if the answers to these questions are frank and "yes." This will provide investors with a reliable reason to keep onto the coin.
Although there is no substitute for thorough planning, it is better to have everything in place before your debut. A staking program with respectable incentives will also aid in promoting retention after your launch.
Plan ahead for all possibilities and start with the goal in mind. Then plan some more. Ascertain that you have the necessary team members, organizations, funding, and developers in place and prepared to go. Identify your audience, remain loyal to them, pay attention to what they have to say, and never try to deceive them. They ultimately hold the secrets to your success.
