To do a recap and give a deeper insight for the topic covered last week in our Telegram Channel, here are the five most common mistakes made running an ICO campaign.
Even though it looks tempting, channels with tens of thousands of members all interested in ICOs, stay away from this service. In reality:
Note: If you do decide to feature your project in such a group, be sure to use a tracking link in order to see the value it brings.
Doing an Airdrop campaign to join your Telegram group works great, it can skyrocket your member count, especially if you know how to develop a bot to help people join. However, be mindful to the fact that these members only care about the free tokens, they won’t communicate in the group or check your announcement posts.So make sure you have an active community, otherwise a group with lots of members but no discussions will seem fake to real people or investors reviewing the project.Tip: Be sure to add a telegram bot that deletes all service messages like who joined the group
Try to not share the dates of your token sale before you see any community growth or attention from investors. Otherwise the deadline will come sooner than later and it will lead to an unsuccessful sale or you will have to adjust the dates that will make your project seem less likely to succeed.In most cases you can even apply to services like listing sites with dates set to ‘TBD’.Alternatively, you can do a whitelist-only sale for you project, it can help you see how many people are actually interested in contributing to your project and even make it seem more exclusive if only whitelisted members can participate in the sale.
Everyone wants to get as much funding as possible, so why would you restrict yourself? The short answer is - the bigger hard cap you have, the more important and well defined purpose your project needs to have.If you will flood the market with too many coins, but the demand will not be as high, the price will nosedive and no one wants that.Also a really high hard cap can scare away Institutional Investors, who could provide both funding and valuable project validation for general community.
You want to use big pre-sale contribution bonuses as a way of persuading people to invest in your project, well don’t. Large bonuses will only cause people to dump more tokens once they become tradable and in the end will do more harm than good.As a guideline, 25% bonus should be the limit to reward contributors. In the ideal case, can be avoidable.If you do feel your potential contributors need a little ‘push’, a simple 10% referral bonus can work quite well. Simply develop your platform in way that each user gets a unique referral link and provide them the option to earn 10% of their referrals contribution.
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