Using Starter to Create an Effective IDO

We talk about our top tips for a successful IDO launchpad development after making our Polygon debut.

Take our advice if your project has promise and you're considering launching on Polygon or another of our approved blockchains. Then, sit back and watch it develop.

The community is strong and well-organized, so beware of con artists—you can't con it. If you want to succeed, start from scratch and construct a strong project because Starter allows users to select the most promising projects from the audience.

Here are our top suggestions:

Working Cryptocurrencies

The success or failure of an IDO is largely determined by token economics, which may seem obvious. Even if you have a brilliant, ground-breaking idea, fantastic marketing materials, and a ready-made market, your product won't take off if the tokenomics aren't built to generate demand.

Like any new company, you need to make sure that your plans for development and expansion are adequately supported; yet, you cannot exclusively rely on your community to provide all of the required finances.

A public IDO should not be used to attempt to generate excessive amounts of money. This will cause quite a few red flags to fly and will ultimately appear to be a money grab. The average price of a public IDO shouldn't exceed $250,000. In a bear market, this might be much lower.

To generate interest and allow potential for future growth, your market cap should be set up to start out modestly. To avoid encouraging a dump on listing, you should price your listing a little lower than your IDO pricing.

The most lucrative IDOs maintain token scarcity, but there must be a careful balance between the quantity of tokens supplied and the number of players permitted. If tokens are excessively scarce, investors will choose to cling onto their current investments, preventing others from joining the IDO.

The token price will soar if you are successful in striking the right mix between getting enough funds during IDO and making sure that enough investors remain interested after listing. Because of the "Green Candles on listing," potential investors should become intrigued by your business and feel FOMO, which will encourage them to back and support it.

Innovative Marketing

Tokenomics alone cannot guarantee a successful IDO and listing without aggressive FOMO and demand generation through your marketing channels.

Most projects, at least for the IDO, will live up to the positive excitement they have created. However, rather than simply shouting the loudest, it is more important to be present on the appropriate platforms and target the appropriate audience with brand messages that are consistent and meaningful.

This is perfectly illustrated by Cake Monster, one of our IDOs from more recent years. Cake.monster saw a 21x increase in traffic within 24 hours of going live thanks to a beautiful and carefully created brand logo and marketing messaging.

For the most part, this entails being active on the major cryptocurrency-related platforms, such as Twitter, Telegram, Reddit, 4chan, Medium, etc. It necessitates being knowledgeable and having a polished presentation, articles, and videos available.

In the past, we've seen projects use a variety of tactics, like enlisting influencers and putting guerrilla marketing stunts into action, to create a significant impression and quickly ascend to success.

The execution of these strategies is always well prepared when they are used appropriately. Interesting content can be created by anyone; the difficulty lies in getting it in front of the correct audience and being personalized for each reader. Understanding your audience is crucial, to put it briefly (your investor).

Every project has a varied audience, thus for it to be successful, it must be distinctive and appealing to a certain demographic or group.

In either case, focusing on this core demographic should be the cornerstone of everything else. Your branding, the individuals you collaborate with, the alliances you forge, your logo, your voice, the platforms you choose, etc. are all relevant here. Your project may already have an audience if the market is clearly defined by a niche or demographic; otherwise, it could be harder to pinpoint who they are. Knowing your audience's characteristics will help you communicate with them effectively.

Truthful Community Development

It's crucial to establish a truer, more profound sense of community with your audience after you start communicating with them through marketing materials.

You will have the full backing of your community, which will also provide free word-of-mouth advertising for your effort.

The availability of a wide range of content breeds competition and much noise. It is more difficult to create a true community, despite the fact that the word "community" is frequently used.

Whether through gamification, awards, or AMAs, you must consider what your community shares and establish the ideal conditions to promote involvement. Building a sense of community is crucial in this.

But if your sense of community is strong and you have a devoted group of inactive supporters, that won't help you much. It is not advisable to create a community utilizing a free "Airdrop" because of this. Although it could increase your Telegram and Twitter follower count, many so-called "Airdrop Hunters" look for free "Airdrops" to participate in because they have little free time.

Finding and keeping this group is essential for any business venture to be successful, whether it incorporates bitcoin or not. Competent investors are required to get things started.

Advertising After Listing

If you believe that after putting in a lot of effort to create a powerful IDO launchpad like BSCpad, you can simply ride off into the distance as your project becomes increasingly successful on its own, you're in the wrong line of employment.

The planning for life after the IDO must begin immediately. The time immediately following the IDO is crucial due to the quick expansion of the bitcoin sector. Everyone is interested in whether your idea can maintain its impressive ascent or if it will join the long list of initiatives that were promised but never materialized.

You have to keep your foot firmly on the gas pedal if you don't want to be associated with the latter group of people, who have a history of making snap decisions about the flavor of the month.

Your product, dapp, or mainnet needs to launch right after your IDO, if not immediately, for the maximum chance of success.

Post-launch If your project starts to stall out early on, it is quite improbable that it will ever gain momentum. You can make your own luck with careful planning, even if the timing might not be in your favor. Once you make your debut, you will support your community, product strategy, and marketing strategy. You'll be able to demonstrate strength on a consistent basis, which is essential for success and survival, thanks to these items.

You must ponder these challenging questions before developing your IDO because they will be useful when your original product is being developed. Is there a substantial, expanding market for this project? What purpose does this token actually serve? Will I have enough cash even if I don't raise much money at IDO to afford a launch?

You can't be sure that there won't be mass dumping unless you answer these questions honestly with "yes." This gives investors a good reason to keep holding onto the coin.

It is advisable to have everything ready before making an appearance, even though meticulous planning is necessary. The implementation of a staking scheme that provides reasonable incentives will be used to promote retention following your launch.

Every scenario should be thought through beforehand, and the beginning should be the end. then develop new strategies. Make sure you have the appropriate team members, organizations, funding, and developers lined up and prepared to start. Always be genuine to your audience, keep your word, pay attention to what they have to say, and avoid trying to trick them. The success you acquire is ultimately their fault.