Creating an Effective IDO with Starter

Following our debut on Polygon, we discuss our top recommendations for creating a successful IDO launchpad development.

If your project has potential and you're thinking of launching on Polygon or one of our other supported blockchains, take our advice and watch it grow.

However, beware con artists—you can't con a strong, well-organized community. Since Starter gives its users the ability to pick out the most promising projects from the crowd, if you really want to succeed, build a solid project from the ground up.

Here are our top suggestions:

Economic Tokens That Work

It might be obvious, but token economics determines whether an IDO succeeds or fails. Your product won't take off if the tokenomics aren't designed to increase demand, even if you have a fantastic, ground-breaking idea, excellent marketing materials, and a ready-made market.

Like any new business, you must ensure that your plans for growth and expansion are sufficiently funded, but you cannot solely rely on your community to provide all of the necessary funds.

It is not appropriate to try to raise too much money through a public IDO. This will raise many red flags and eventually seem like a money grab. Public IDOs shouldn't typically cost more than $250,000 USD. During a bear market, this might be significantly less.

Your market cap should be designed to begin modest to arouse interest and provide room for future expansion. Your listing price should be a little less than your IDO pricing to prevent encouraging a dump on listing.

The most successful IDOs retain token scarcity, but there needs to be a careful balance between the number of tokens offered in an IDO and the number of players authorized. Investors will prefer to hold onto their existing holdings if tokens are too scarce, keeping others out of the IDO.

If you manage to strike the appropriate balance between securing enough funding during IDO and making sure that enough people still want to invest once listing, the token price will soar. Potential investors should become interested in your project and experience FOMO as a result of "Green Candles on listing," making them want to back and support it.

Marketing Innovation

Tokenomics by itself cannot ensure a successful IDO and listing without active FOMO and demand building through your marketing channels.

Most of the time, a project will, at least for the IDO itself, live up to the good buzz that it has generated. However, it's more crucial to be present on the right platforms and target the right audience with consistent, thoughtful brand message than it is to just shout the loudest.

Cake Monster, one of our IDOs from more recent times, is an excellent example of this. With a stunning and thoughtfully crafted brand logo and marketing message, cake.monster achieved a 21x within 24 hours of listing.

Essentially, this means being active on the key cryptocurrency-related websites, like Twitter, Telegram, Reddit, 4chan, Medium, etc. It calls for being well-informed and having a polished deck, articles, and videos available.

In the past, we've seen projects use various strategies, like engaging influencers and implementing guerrilla marketing stunts to make a large impact, go from zero to hero in a blink.

However, when used properly, these approaches and their execution are always well-planned. Anyone can produce interesting material; the challenge lies in getting it seen by the right people and tailoring it to each individual. To put it succinctly, it's important to understand your audience (your investor).

Your project must be unique and appealing to a particular demographic or group if you want it to be successful because every project has a different audience.

Everything else should be predicated on this core audience in either scenario. This pertains to your branding, the people you work with, the alliances you create, your logo, your voice, the platforms you select, etc. If the market is clearly defined by a niche or demography, an audience may already be incorporated into your project; otherwise, it may be more challenging to identify. You can effectively communicate with your audience when you are aware of who they are.

Honest Community Development

After you begin to communicate with your audience through marketing materials, it is essential to create a genuine, deeper feeling of community with them.

Your neighborhood will fully support you and spread the word about the initiative through word-of-mouth referrals for no cost.

Many different types of content are available, which creates a lot of noise and rivalry. Although the word "community" is widely used, it is more difficult to build a true community.

You must take into account what your community has in common and create the right conditions to encourage participation, whether it be through gamification, rewards, or AMAs. The key to this is fostering a sense of the group.

That won't assist you much, though, if your feeling of community is strong and you have a loyal following of inactive supporters. For this reason, using a free "Airdrop" to build a community is not advised. Many so-called "Airdrop Hunters" hunt for free "Airdrops" to engage in because they have limited free time, even though it could enhance your Telegram and Twitter follower count.

To get started, you need competent investors, and finding and retaining this group is the key to every successful business endeavor, whether it involves cryptocurrency or not.

Post-Listing Strategy

You're in the wrong line of work if you assume you'll work hard to build an effective IDO launchpad like BSCpad and then ride off into the sunset as your project grows more and more successful on its own.

Immediately after the IDO, planning for life after it must start. Due to the rapid development of the bitcoin industry, the period immediately following the IDO is essential. Everyone is watching to see if your idea can continue its remarkable climb or if it will become one of the many projects that were promised but never materialized.

If you want to stay away from the latter group of people, who have a reputation for quickly changing their minds about the flavor of the month, you must keep your foot firmly on the gas pedal.

For the best chance of success, your product, dapp, or mainnet must go online at the completion of your IDO or very soon after.

Post-launch It is quite unlikely that your project will ever pick up momentum if it begins to falter early on. Even if timing might be unfavorable, you can make your own luck with proper planning. Your marketing approach, product plan, and community are all things that you will support once you debut. These things will give you the ability to put on the constant displays of strength necessary for survival and success.

Before creating your IDO, you must ask yourself the difficult questions that will pay off later in the development of your initial product: Does this project have a real, thriving market? Is there really a use for this token? Will I have enough money to fund a launch even if I don't raise much money at IDO?

Only if you give honest, "yes" responses to these questions can you be confident mass dumping won't happen. Investors will have a solid motive to hold onto the coin as a result of this.

Even though careful planning is essential, it is advisable to have everything ready before making an entrance. After your debut, retention will be encouraged with the use of a staking program that offers realistic incentives.

Consider every scenario in advance and begin with the end in mind. then make more plans. Make sure you have the right team members, groups, funds, and developers lined up and ready to begin. You should know your audience, stay true to them, listen to what they have to say, and never try to trick them. They are ultimately responsible for your achievement.