What’s a white sheet of paper?
Every Initial Coin Offering (ICO) on the market requires a white paper in order to be a success.
The white paper can be described as a piece of paper which contains an outline of the problem which the project is seeking to resolve, the solution and a thorough description of the product’s structure, the way it interacts with the users.
The content of any white papers should contain the following points (in no specific order) However, it should not be restricted to these:
- Table of Contents
- The description of the market and the issue
- A description of what the product is, and how it will solve the issue
- Tokens What are they? How many, why what, when, and so on.
- How are the funds raised going to be utilized
- The team
- The road map
How do you write on a white paper
Let the ball roll!
The beginning of a white paper could also be a suitable section to place a legal notice or disclaimer that should include any significant limitations or announcements. This could be regarding the exclusion of residents of certain countries from buying tokens for the project due to local laws or simply letting investors be aware that the investment will not guarantee profit.
One of the most crucial steps in the writing process of every document is to write an effective introduction. One option is giving an introduction in the shape of a letter written by a CEO to the future holders of tokens. holders.
In this section, you must describe the problem your plan is to address and explain the importance of this issue and perhaps discussing the negative consequences of not tackling it.
This is the time to draw the attention of your reader to explain the benefits of the document, and then provide a summary of what they will get from the document. Utilize any tool you have to make this happen Graphics, charts and more.
A white paper is typically an technical document. They are in general, they will be as long as 25 pages. This is why it is crucial to ensure that your white paper is easy to navigate and user-friendly. A clear and well-organized table of contents can help.
If your white paper includes certain terms you believe should be defined You can create a glossary within this section.
Discussions about the project
Make sure to take as much time as you can to discuss your venture in detail and show prospective investors exactly how it will fit in the market. In addition, you must be sure to describe the scope of the project and the components it comprises of.
There is no need for all of these numbers you may consider including in the whitepaper as long as they’re supported with facts, research or analysis.
The current state of the Project. This section must also include an extensive description of the present state of the project including prototype information, the first users, if they exist the development strategy and the overall goal.
Most serious investors will only invest in projects with something to prove, since having an ecosystem and large user base can increase the chance of the token’s success in the marketplace. If you’re a part of any of those components, be sure to let people who read your blog know about it.
Finances. It is important that you dedicate a large section in your paper for your project’s financials. It is essential to clearly state the reason your project requires their own currency, what they are for, and when they are going be distributed, will the distribution of tokens during the ICO be restricted, at what point will sales begin on the market , and the list goes on.
The plan of how to use funds. Investors must know where their money is being spent and the amount is required to finish certain tasks.
In addition, the white paper shouldn’t include expenses like “networking event”, “industry development”, “miscellaneous” and so on. The white paper you choose to use should clearly mention that the funds collected will be used for development and not for anything else.
Roadmap. The white paper must include not just a thorough explanation of how the program works but also a roadmap to development. It is recommended that a thorough work plan for the coming 12-24 months is required as well as the possibility of a beta launch.
If certain tasks mentioned in the plan have already been completed, be sure to mention this on the whitepaper since it could be viewed as an advantage for investors.
Discuss the team
The team members are an essential and vital component of the project and should be presented as they are. In rare cases the idea of an ICO with developers that are not anonymous will not succeed.
While the remainder of the white paper needs to be a technical explanation This particular section is where human interaction is crucial. Short biographies and photos of the team behind development can be an attraction to investors.
Don’t just define who the people who are who are behind the project But also describe the reasons why they are important to this particular project and how they will ensure that the project succeeds.
It is important to state how their prior experience can be beneficial to this project. If any team members have prior experience with the blockchain or other cryptocurrency-related projects, you must mention it clearly.
Additionally, you could mention a few words about the advisors to the project. But, be sure you don’t make a point of mentioning names in the sense that the advisors named will be experienced in the goals the project is aiming to accomplish.
Language, style and layout
When writing an white paper, be sure you write in a formal, academic writing. The paper should be professional and descriptive in its tone. The focus should be on a narrow area since it is more effective to choose a single area and then focus on it.
The white paper authors tend to go on about possible use cases and the possible future applications of their technology instead of focussing on the task at focus.
If you plan on selling party hats on Blockchain do not write about your plans to launch customized services with another company by 2025 or even about deciding whether you will also begin selling top caps and snapbacks “in the near future”. Concentrate on integrating party hats with Blockchain. Think about how your tokens could be used to upgrade the party hats and how you can get an additional string or even a new paint job for the hats.
Furthermore the white paper must be based on fact. Do not make assumptions, guesses, and unsubstantiated assertions.
Additionally, and it is a given, be sure to examine your white paper for absence of spelling and grammar mistakes, and verify everything you can. The text of your document should be designed to not appear unprofessional.
If you wish to to display your white paper in multiple languages, you should to use the services by a certified translator that will cost you around $150 to $200 for a 25-page paper.
Where do I put the white paper
In the past there were instances of success ICO campaigns being shared across various bitcoin-focused forums with the white paper being the first message in the thread. Nowadays, however since the ICO phenomenon is in its zenith, the majority of the companies prefer posting their white papers on their websites.
Other options, including GitHub forums, forums, and the like are also viable but you should ensure there’s an all-encompassing source of access to the white document. Don’t copy and paste it across multiple platforms. Instead, you could simply share a link to it when promoting your work across various forums and sites.
ICO White paper template
Like any other documents for business There are a variety of white paper templates that are available on the internet. In general these templates is not favored from both crypto community and investors. If you’re working on a product that is distinctive it is essential to make sure you have a distinctive white paper.
Since ICOs are getting more and more popular as they become more and more sought-after, it is becoming increasingly common for freelancers willing the opportunity to write a white paper for up-and-coming companies has been growing dramatically and the reports suggest that it could cost just $100. This shouldn’t be considered as an option for any serious or non-serious venture.
In at the conclusion of your day white paper is the primary selling factor. It represents your team’s distinct concept of the product and must be taken carefully. Employing a freelancer to complete the work for you will be a bad idea and result in a subpar result , and consequently the failure to raise the funds needed.