A White Paper is an official business document giving information on a particular topic. The success of an ICO (Initial Coin Offering) depends on a number of things including a great white paper.
It works as the foundation of your project providing information such as project details, aspects, mission, objective, roadmap, target users, etc.
Whether you are planning to write an ICO white paper yourself or looking to hire a professional writer/company for the job, these ICO white paper writing tips can help you do an awesome job.
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Tips for Writing a Great ICO Whitepaper For a Successful ICO 2020
Before you start writing a white paper for your ICO, you should know and understand the reasons why white papers are written and what should be included in this documents.
Statistics reveal that there has been a continuous increase in the use of white papers for making important business decisions, specifically in the last year or so.
People have been preferring information over advertising to make decisions. Keep this in mind while crafting a whitepaper document for your next ICO.
People who show interest in your ICO is probably looking for solutions to a particular problem. Try to identify that problem and mention in your white paper how your ICO (and cryptocurrency) solves that particular problem of the target users. Be sure to provide the solution that does not already exist.
Let’s get started.
Sections to Include in a Whitepaper
A good white paper should necessarily have the following sections:
- A problem
- A solution to that problem – your product
- A description of your token and ICO
- Commercial applications of the token
- Technical aspects
- Project roadmap or timeline
- About team/company
- Token future perspectives
These are only the most important and crucial elements of the white paper. There are other things like introduction part, about blockchain, token features, and benefits, real-world applications, a description of the use of funds, etc.
It is very important to mention the details of the project team and members in your white paper. It instills trust and creates a personal effect on the readers.
Make sure to mention the professional and specific skills of each member of the team including their experience in the cryptocurrency domain.
The length of a standard white paper ranges from 25 to 35 pages.
The white paper should include all the details of the project, including the description, objective, technology, process, development strategy, existing users (if any), etc. ICO projects that have a solid strategy and trustworthy users behind them are more likely to survive for a long time.
Another essential element of an ICO white document is the detailed description of the use of funds. Make sure to be clear about where and how you intend to spend the money of your investors.
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Also, clearly mention the price of the token, or prices if you plan to sell at different rates during different stages.
The roadmap of the project will present a working plan for the next few months, if not more. Give a proper timeline of what will happen when, including when will sales start, when will token be launched, etc.
Technical Description: There must be a clause of technical description in the white paper which details the technical aspects along with technology behind the project in an easy to understand manner.
Other things to consider when developing an ICO Whitepaper
Content is all about quality and freshness. If you can provide these two things in your document, your chance of success will be optimum. Here are a few tips to help you.
Quality Writing: The ICO white paper should be written in an impeccable yet simple English. It should be easy to read and understand. The information must be correct and complete.
Accuracy: Like I said, the information mentioned in the document must be accurate. If you are including any statistics or data, be sure to verify it from a credible source. You do not want to disappoint your potential investors by telling lies.
Design: It is crucial for the design of the white paper to match with the concept/idea of the project as well as the company. The best way is to create the design and the content parts separately and merge after.
Technical data: If you have already developed some code or have a prototype of the idea of the technical concept, feel free to include the details in your white paper.
An Example of a Successful ICO White Paper Project
The best way to learn or understand the various aspects of a successful ICO document is through real projects. We have therefore included the example of one of the most successful ICO projects for which white paper was created by SAG IPL.