In order to be successful, every ICO needs to be accompanied by a well-written white paper. This document provides information about the project, what problem the ICO proposes to solve, and a host of other information. A white paper should answer any questions potential investors might have, and motivate prospective buyers to throw in their money.
The Parts of an ICO White Paper
There are certain elements that should be included in every white paper. Yours should contain these sections:
- A Table of Contents For Easier Navigation
- An Introduction
- Any Disclaimer or Warning Information
- Description of The Problem The ICO is Proposing to Solve
- Description of The Target Market
- Details About The Coin And How it Solves The Problem
- Information About The Tokens (When, number offered, etc.)
- A Profile of The Team
- Guidance on How Funds Will Be Used
- The Process or Roadmap You Will Follow
Start With Any Disclaimers
You only want investors who are legally able to buy into your ICO. That’s why you should consider starting your white paper with any legal notices or disclaimers. Let potential investors know of any important restrictions, potential for conflicts of interest, or legal issues. For example, citizens of certain countries may not be able to buy tokens. If nothing else, you should include a declaration that any investment comes with risks, and there is no guarantee of making a profit.
Write a Great Introduction
The notion that you need a compelling introduction is pretty much writing 101. Now, you need to figure out how to start your white paper in a way that makes people want to read forward. One technique is to lead with authority. Write your white paper as if it is being written by your CEO as they speak directly to potential investors.
Here are some points to include in your intro:
- An outline of the existing problem.
- Why people should care about the problem.
- Potential consequences of not addressing the problem.
Most importantly, you want to convince the reader that they will benefit from reading further. Tell them what they can expect to learn. Use images such as infographics to generate interest, and to illustrate points.
Make it Easy to Navigate
This is a very technical document, and often quite long. Also, potential investors may be interested in different information about your ICO. That’s why it is extremely important that your ICO paper is easy to read and navigate.
Use plenty of headings and subheadings to make each section stand out. Use bullet points and numbered lists. Consider adding an appendix. This is where you can include particularly detailed and technical explanations and definitions of any proprietary terms.
Finally, include a table of contents. If you use clickable links, readers can simply navigate directly to any section that interests them.
Don’t forget to add visuals throughout your text. This breaks things up, clarifies your points, and makes your content easier to read.
Creating compelling content that is well-formatted can be complicated for sure. Consider using writing tools and other resources such as Grammarly, TrustMyPaper, WowGrade, Canva, Studicus, or GrabMyEssay.
Take The Time to go Into Detail
Once you’ve covered your introduction, and created a readable format, it’s time to talk about the project. Don’t hesitate to go into detail. Anticipate questions and answer them. Explain what the project involves, and what the different parts of the project entails.
If you include numbers, predictions, or make declarative statements in your white paper, you must back them up. Show your calculations. Link to proof from reliable sources.
Detail The State of The Project
This is the section of your paper where you explain where your project is at currently. For example, are there any current users? Do you have any real or prototyped data? What is your strategy based on your current position?
Most serious investors want to see some sort of ‘proof of concept’. This may be in the form of an existing ecosystem or a base of users who have already bought in. Let your readers know what progress you’ve made so far.
Be Transparent About Money
A large portion of your white paper should be used to discuss finances. First, give a clear explanation of why you need tokens for your project to succeed. Discuss how they’ll be distributed and when. Mention if there will be a limited issue of your tokens, and when you anticipate sales will start.
Another part of this is how you plan to use your funds. Investors aren’t going to turn loose funds unless they know how that money will be used. More importantly, they’ll want to know which tasks will be completed using that money.
It’s especially important not to use vague terms when you talk about expenditure items. The term miscellaneous expenses should not be included in your white paper. It also should not be spent on networking or marketing. It should all be earmarked for development.
Create a Timeline
Your white paper needs more than a technical, detailed description of your project. You also need to create a timeline that shows a detailed plan of what you plan to accomplish in the next 12 to 24 months. One part of that needs to be a beta launch at the very least.
When you create your timeline don’t start in the present. Start in the past. This way you can show what action items you have already completed and when. This could be a real selling point for investors who want to know what you have accomplished already.
Introduce Your Team
You have faith in your team. Your white paper should get potential investors to feel the same way. Add a human touch here. Provide photos of the developers and other key team members. Include their biographies along with their roles and relevant experience. Let readers know how each person on your team is important. You should especially include any experienced members of your team have with crypto or blockchain projects.
Are you receiving any guidance from 3rd parties? If you have a meaningful relationship with someone who is influential, you can mention this in your white paper. However, you should be clear about their input and role. Otherwise, it just appears as if you are name-dropping.
Your ICO white paper is one of the most important documents you will create for your crypto project. The quality of this paper will influence whether investors are willing to take a second look, or if they decide to pass. Follow the guidelines above to ensure that you communicate about your project clearly, and demonstrate that your ICO is worthy.
Author Bio: Kristin Savage is a talented freelance writer who contributes to Supreme Dissertations and WowGrade among other channels. Ms. Savage has degrees in marketing, and business administration. Her areas of interest include fintech, digital marketing, and small business development. In her spare time, she enjoys playing cards with her friends, and kayaking.