What are the ICO stages?

Initial Coin Offering is the first step carried out by developers to raise funds to support a specific project. In order to carry out a successful ICO you should follow the following steps:

Pre-announcement

Pre-announcement – Pre-announcement is the first step in an ICO process. In this stage, the developers highlight the goals of the project. For an idea to receive massive support in this stage it should be unique and viable. The pre-announcement is done so that people can comment on it. This is the most important stage of an ICO because if the community finds it interesting they will support it but if they see some questionable processes then they can abandon it.

Gathering the team

Gathering the team – After the idea of the project has been accepted the next step is to gather a team of professionals to work towards launching the ICO. The team should include programmers, designers, editors, and even PR-team. Before the start of the work ensure that you agree with the team how they are going to be compensated. You can decide to pay them with your money or ask them to wait until the completion of the ICO.

Preparation of the whitepaper

Preparation of the whitepaper – The third stage is the preparation of the whitepaper. The whitepaper should be based on a thorough market study. This paper should contain all the details about the project including the aspirations and goals, funds required, the team working on the project, the digital currency to be used in this project and the deadline of the project among other details. After the whitepaper is completed have it checked by experts which it’s the document that is used to attract investors apart from being the roadmap of the project. In this stage also ensure that you have complied with all the legal requirements to avoid legal battles during an important phase of the project.