Every Initial Coin Offering (ICO) project requires a content-rich whitepaper to succeed. A whitepaper is a document that explains the problem the project intends to solve, the solution to the challenge, a description of the product and how it will interact with the users. The project leaders use the document to explain their businesses’ competitive advantages and show the development roadmap. Although there’s no given structure of an ICO whitepaper, the following guideline could be of much help when writing one.
Introduce The ICO Project
Investors will not put their money in a project that they don’t know about. The introduction should not contain detailed technical information. It should tell the readers about the importance of the project with the aim of encouraging them to study more about it. It should also mention the target market and its problems.
Explain The Project
Given that ICOs are mainly designed for projects to be developed later, it’s advisable to provide convincing reasons to win the trust of potential ICO participants. The whitepaper should explain about the product, the development strategy, and its potential users. Mentioning the ecosystem and the users of the new product will boost the survival chances of a project.
Given the potential of ICOs in raising a lot of funds, it is advisable to provide a detailed plan on how they will be used. The investors want to be assured that their money will not be used on personal needs. There should be definitions of some of the terms related to the project in this section.
For illustration purposes, many project founders prefer to use infographics and diagrams. The would-be investors should get the full idea about the project by going through this section.
Every ICO project targets a specific market. The project founders should analyze the market and identify trends. This section should include the use of graphs and actual data from reliable sources such as KPMG among others.
The Relevance Of The Project
After highlighting the major problems in the market, it is time to explain how the project will be the best solution. The whitepaper readers will get a better understanding of the project by learning how it will provide solutions.
Mention About The Tokens
Potential investors would like to know how the tokens will operate, their role, and how they will be distributed among the various investors. The use of diagrams and graphs can make it easy for the readers to understand the coins. Important information that should not be omitted includes the distribution process, minimum and maximum cap, issuance volume, and the initial price of the coin.
A chronological diagram that records key events and deadlines should be used. Apart from informing prospective investors about how things will happen, the roadmap will also enable the founders to track the progress of the project.
Mention Your Team
An ICO team is as important as the project itself. After identifying the people you will work with on your project, you should mention them in your whitepaper. Given that you have nothing tangible to offer to your would-be investors, presenting your team could be an effective way of building trust.
You should provide photos and short biographies of your team. Give reasons why these people are the right ones for the project. Remember to mention their previous experience. Providing their social media links can help potential investors know more about your team.