This page aims to guide you through the steps of creating a "proper" ILO, with serious tokenomics and avoid having to recreate it (e.g. errors) or failing to raise funds according to your target.
In this guide, you will be given recommendations on how to plan your ILO, set your tokenomics properly, lock your tokens, use our minter, etc.
If you are serious with your project, do go through every steps and watch every videos, then do not hesitate to ask questions and/or provide feedback in our ILO Telegram Group. In preparing well, you will have a stress-free presale and you should be able to remove most if not all red flags from your ILO.
"Give me six hours to chop down a tree and I will spend the first four sharpening the axe."
Do not launch tokens with extra large supply (like 1'000'000'000'000 or more)
Failed ILOs are not refundable
Do NOT use a hardware wallet (Ledger, Trezor, etc.)
We will not get into the details of the non-technical part of the preparation needed before you are starting a presale.
Do ensure though that (non-exhaustive list):
You have a product that brings value to DeFi space and to your holders
You are a project manager and are ready for the challenge
Your goal is clear and you foresee the path to achieve it
You are properly set in term of social presence
Your marketing is ongoing or set to be launched on time
The images and other material you use are not copyrighted
“A plan is what, a schedule is when. It takes both a plan and a schedule to get things done.”
Avoiding the Red Flags
You have probably noticed that some ILOs are all in a nice blue color, while some have a few red flags, or are even completely flagged in red.
Why some ILOs are in red?
While remaining decentralized, we aim to protect participants using our platform by highlighting potential concerns in every ILO. Hence as an incentive to only launch serious projects using our tech, the following fields will turn blue only if the setup is done properly, including but not limited to:
KYC: passed with one of our partners
Audit: using our ENMT for your ILO token (custom contract, even audited, may be flagged)
Unlocked tokens: low impact on the pool if all unlocked tokens are market sold
Which of the below do you wish for your ILO?
Your project and product(s) need to be sustainable in the long term and ideally survive a bear market. Your tokenomics need to support this vision (e.g. with proper token vesting and release over the coming years). There must be an incentive for people to hold your token, other than just taxes.
With no product ("Pumpamental" is not a "Product"), it is a Ponzi Scheme and late comers/leavers will lose part of or their full investment.
KYC / Know Your Customer
Do get KYC with one of our partner: this will bring more trust from ILO participants and your community. You will need to get in touch with them directly.
We recommend using the same provider for Auditing and KYC: this ensures the provider can have a proper look at your contract, at your identity, but as well at your tokenomics (we have a dedicated section about tokenomics further below).
Your ILO should be created when the provider looks at your tokenomics: do contact them in advance and agree on a schedule for having your ILO ready to be reviewed.
If you will be using an ENMT minted from our factory for your ILO, an audit will not be required: it's pre-audited, has no minting and is fully ERC-20 compliant. It will appear in blue as pictured below:
How to contact a KYC partner:
Explains how to get in touch with one of our KYC and/or Audit partners
Test your Token, your ILO and Token Vesting on Kovan
For an ERC or BEP-20 token based ILO, do test your ILO under Kovan (incl. ENMT & Token Vesting) up to a successful market initialization to ensure you are all set before creating your ILO in production environment. Our Kovan dapp is here.
Do ensure that you have disabled all taxes and special functions as described here to:
1- allow participants to withdraw their tokens without being taxed
2- ensure the markets can be initiated upon ILO's success
An ENMT will launch smoothly without any extra step regarding taxes.
Summarizing the Process
This is in chronological order what you should do:
"Pre-ILO Tasks" must be done or at least drafted and ready to be implemented
Your tokenomics (and initial supply) are planned using our ILO prediction tool XLS
Below are some recommendations, however every project is different hence your funding needs may differ slightly depending on your roadmap, product(s), etc.:
80%+ of your LP should be locked
The majority of your tokens should be reserved for presale and liquidity. There could be some exceptions with very long term projects and proper, long term token vesting applied.
The remaining tokens must be locked using our token vesting service. Other providers are not supported: locks from those providers will appear as "unlocked" in your ILO tokenomics chart.
A very small amount can remain unlocked if required for your project.
Using the XLS for your Forecast
Once you have downloaded our prediction tool from the Appendix, open it. You will see about 10 fields which you need to adjust (those with a yellow background). Everything else is calculated automatically and should not be changed.
The last field will appear on a green background if your token supply is large enough for your ILO forecast: you are good to go. Consider extra tokens IF required by your project and be ready to lock them after the creation of your ILO.
If the last field is in red, it indicates that your supply is not large enough for your ILO: keep changing your parameters (yellow fields) until 1) the field turns green and 2) you are satisfied with the tokenomics.
The XLS uses the same formulas as our ILO Prediction UI (tested on ILO Platform v5, September 2021). However, we recommend proceeding with the locking/vesting of tokens after the ILO is created to allow some flexibility in case of a delta between the UI and the XLS.
Now you should be good to mint your ENMT from our factory if you have opted of this option, which is described in the next section.
ENMT / ERC20 Non-Mintable Token
To have a guaranteed blue flag for the audit, we recommend you use our pre-audited token minter. It has no tax, no minting, no special function, and is very similar to our UNCX token.
ENMT will have this instead of an "Audit" flag:
How To Mint
Explains how to mint your own token (ENMT) using our factory
Our ENMT cannot be modified in any way hence no tax can be added to it. Consider your ecosystem and products to be the main incentives for your community to hold your token.
ILO Creation and Configuration
Once your token is minted (and audit done if if you have finished your testing on Kovan), and you have properly forecasted your tokenomics using our XLS, you can create your ILO prior locking your tokens.
Create your ILO
Ensure you have enough tokens for the gas fee and for the Unicrypt fee and that your tokens are available for sending to the ILO contract: you will apply your forecasted tokenomics using the prediction tool or our UI.
How to Create an ILO:
This video was created on ILO Platform v5. You will see some differences with current ILO version, including the lack of a Whitelist option (20% of your Hardcap) which came out with ILO v6.
Explains how to create an ILO - Based on ILO Platform v5
During the process, do take note of the generated ILO contract, which is unique for each ILO. This should appear in the URL: copy-paste it to a safe location as it can be used in case you do not see your ILO immediately.
Your start and end date can only be adjusted before your ILO starts (TBC)
The wallet used is the only wallet allowed to modify or cancel the ILO, and will be the wallet receiving the funds: do ensure full trust between team members before proceeding.
Edit your ILO
Once your ILO is created you will add your logo and a link to your Telegram, Twitter and website.
Editing your ILO is pretty straight forward and only require you to connect your wallet and go to your ILO page.
Add Your Logo:
We have many request for logo not showing, and the resolution is always the same: if you are pointing to your gallery, i.e. the html page and not the PNG/JPG/GIF, it will not work. You have to, from a computer (not easy on a mobile device as imgur forces the mobile version of the website), right click on your image and select "copy image address", as pictured below:
Then paste the link to the dedicated field when editing your ILO.
As of ILO v6, you are allowed to have 20% of the hardcap for whitelisted wallets, typically to reward early followers of your project.
Additional information about how to manage a whitelist will be added soon.
Lock your tokens
If you plan to have a certain amount of tokens not dedicated to the presale or liquidity, consider locking them to ensure maximum trust from your community.
Our Token Vesting has 2 types of locks as described in below sections, with a supporting video for creating each type. You can have more in-depth information by reading our dedicated Token Vesting documentation.
You can create multiple locks and they will all show in your ILO for participants.
Be reasonable with the dates of unlock (e.g. releasing 5% of the supply a few days after the ILO ends is not considered as reasonable) and plan well the amount of tokens you will lock then unlock over the coming months/years.
Create a lock and unlock all tokens in this lock at a specific date.
How to Create a Standard Lock:
How to create a standard lock
Unlock tokens at every block between date A and B (both can be defined).
How to Create a Lock with Linear Unlock:
How to create a lock with linear unlock at every block
Be cautious when setting "date A" as you should ideally start the unlocking at a reasonable timing, i.e. few months or at least several weeks after the ILO has completed.
Once a locker is created, there is no way to unlock it prior to the date you have set. The tools being all decentralized, Unicrypt has no ownership of the contract for your lockers, nor for your ILO.
You're all Set!
Token Minted / Audited
80%+ liquidity locked
Softcap vs Hardcap is reasonable
Logo and links added
Circulating supply locked
Is your ILO showing mostly with blue flags?
We hope it does!
Download this tool in a spreadsheet (ideally Excel) to forecast your tokenomics before minting your token