Token generation events (TGEs), often referred to as initial coin offerings (ICOs), are still all the rage in the crypto industry.
However, hosting token generation event takes a significant amount of time, money, and effort. There are many things that can go wrong - from figuring out how smart contracts actually work, to security issues as a result of bugs in the code, to running out of capital.
As a result, many people with good ideas are reluctant to take the risk.
However, with the rise of new platforms dedicated to simplifying the process, this could be about to change.
What to expect when you launch with Rocket
The Rocket platform has been specially designed to completely simplify the process of creating and launching a token generation event.
Essentially, it’s an all-in-one solution that includes everything necessary to launch - from consultation to development to marketing, and further support.
A process that once took a number of months to design, implement and launch can now be done in a matter of minutes.
What Kind of Support Do I Get?
Rocket supports you through the entire process, using a guided workflow to help you through each stage of the project.
The full project will be broken down into several stages, including: creating your project, adding your branding, establishing your token, adding your crowd-sale information, creating a pricing structure, developing a plan for your unsold tokens, deploying your smart contract, scheduling your token sale, getting featured on the Rocket marketplace, and collecting your contributions at the end of the sale.
When Do I Get My Tokens?
All tokens will be generated the moment the contract is deployed. However, no tokens can be moved until the crowdsale has ended.
As a result, all allocated tokens will be available for release when both the crowdfund time and the vesting period - which begins on the day that the crowdfund is completed - have come to an end.
What Happens to Unsold Tokens?
When you set up your event, Rocket gives you two potential options to dispose of any unsold tokens.
The most straightforward option is to burn any unsold tokens at the end of your campaign. This means you dispose of them permanently, and that you move forward only with the tokens you have sold during your token sale.
As well as being the easiest option to execute, this also puts your users at ease, as it vastly reduces the potential for large amounts of tokens to be released into the market in future, which could drastically drive down the value of their investment.
Alternatively, you can choose to send the tokens to an external address that you own, so they can be sold for use on your platform at a later date.
However, should you decide to go with this option, you should be very upfront with this in your whitepaper to ensure that your users do not feel misled.
How Secure is Rocket?
When launching a token generation event, security should be your top priority. Many events have failed solely on the basis of bad security, and if hackers find a loophole in your system, it could be enough to derail your entire project.
Launching a token generation event is expensive enough as it is. As a result, many companies are increasingly taking a ‘do-it-yourself’ approach to security. However, as the industry continues to grow, so does the number of hackers that target it.
It’s hardly surprising that we’ve witnessed an increasing number of security disasters over the past few years, showing that even the smallest loopholes have the potential to cost companies millions of dollars.
As a result, the Rocket platform is taking security very seriously. Even users without any development experience at all can create, execute, and track their crowdsale securely, using reliable smart contract technology.
The technology has been thoroughly reviewed three times - once by the in-house auditing teams, and also by two external companies to ensure that it is completely error-free.
If I’m a Client of Rocket, Do I Receive Any Marketing Support?
Without a doubt, marketing is one of the most important aspects of launching a token generation event. No matter how good your project is, it won’t take off if nobody knows that it exists. As a result, it’s vital that you have an experienced team on board.
Thankfully, Vanbex, the team behind Rocket have extensive experience in launching blockchain crowdfunding projects. They have been working with businesses in all different stages and provide advice about marketing, development, strategy, public relations, and communications within the blockchain industry.
So far, they’ve helped more than 70 different projects grow and develop. Some of their major clients include the likes of Storj.io, the decentralized data storage platform; Enjin, the blockchain-based game development platform, and Dash, the digital money system.
Interested in Finding Out More?
Contact [email protected] to find out more and sign-up for a free trial of Rocket by Etherparty, the user-friendly platform that lets you set up, launch, and track your token crowdsale without a development team.