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If you are only at the initial stages of your blockchain project, and the launch of its tokens is still ahead, this can cause you a lot of excitement. The fact is that the launch of tokens is usually accompanied by various crowdfunding events, so to attract the required amount of financial investment, you will have to think through the marketing strategy well. Actually, we, the international crypto marketing agency, will explain how to do this below.
8 Essential Steps to Launch Your 1st Token and Don’t Fail
So, what are the eight steps that are most likely to make your token a success? Let’s find out right now.
1. Define the exact purpose of your token launch so that it is transparent and understandable for potential holders
It is probably obvious that your token should solve clear and transparent problems within the framework of your project. But think about whether their descriptions in your documentation, on your website, etc. are so easy to understand? Of course, if the token will be used to pay for specific goods or services, this is unlikely to be difficult to explain, but what if its key purpose lies in something else (be it governance, voting in the DAO, etc.)? In general, this is something that you will have to agree on not only with your technical team but also with marketing experts and outline it in detail in the whitepaper for your project.
2. Conduct an audit of smart contracts in your project
The audit consists primarily of the timely detection of vulnerabilities in the program code of smart contracts, and this is something that makes sense to delegate to a third-party team. Note that such an audit is often carried out by teams of crypto exchanges where the token listing is planned, so if you have such an option, you should definitely not neglect it. In general, your ultimate goal is to publish an audit report on your project’s website, which can be viewed by potential investors and users of your project.
3. Build a loyal community
Since the community is the central element that contributes to the growth of any blockchain project, it is very important to pay attention to its building and development from the very beginning, because its members will be able to advertise your project by word of mouth. To do this, you should create communities in Telegram, Discord, and Twitter, where you will regularly publish updates on your project, provide educational materials, and launch surveys and contests. They can also be a perfect place to hold AMA sessions where your project team will answer questions from the audience in real time.
4. Choose the perfect platform to launch your tokens
Generally speaking, the platform always affects the visibility of your token and how easy it is to buy. Therefore, if you have the opportunity, you should consider using popular token sale platforms like Binance Launchpad or Polkastarter. At the same time, if you are launching a token on your own blockchain, you will need to make sure that the purchasing process is easy even for inexperienced investors.
5. Launch a well-thought-out PR campaign
Since the media plays a leading role in covering your project in the international crypto community, you will need to prepare in advance a list of such websites (in particular, CoinDesk, CoinTelegraph, etc.) and crypto bloggers who can tell their readers/subscribers about your project to create an aura of trust and prospects around it. In particular, for the media, you will need to prepare press releases announcing the launch of the token, and for crypto bloggers – texts and scripts so that their advertising looks and sounds native and unobtrusive.
6. Establish partnerships and collaborations that are beneficial to you
Also, don’t forget that as you prepare to launch your tokens, you will need to try to establish partnerships with projects where your tokens and the functionality of your blockchain in general can be useful. In particular, these can be dApps, crypto exchanges, as well as various blockchain platforms, integration with which will expand the capabilities of both their and your solution.
7. Increase the liquidity of your tokens
While insufficient liquidity will usually turn investors away, too much liquidity can also be harmful and ultimately cause your token price to fall. In general, to ensure that liquidity growth occurs gradually and in a controlled way, you will need to negotiate with liquidity providers in advance to form pools on popular DEXs such as Uniswap or PancakeSwap, as well as set up mechanisms to regulate token issuance.
8. Ensure regulatory compliance
Since non-compliance with the law usually leads to fines and even blocking of the project, you will need to arm yourself with the support of lawyers who work in the blockchain sector in the regions where you are going to present your project.
A Few More Words
Now, with a guide to launching tokens at hand, you can act more consciously on the path to developing your project. At the same time, you can completely free yourself from all these worries by entrusting everything related to the launch of your tokens to the Coinband team.
Disclaimer: This article is sponsored/guest content and was provided by a third-party. The views and opinions expressed in this article are those of the author. We encourage readers to do their own research before making any investment or trading decisions.
