The Step-by-Step Guide to Launching a TDE with Rocket
Lift off with this in-depth sneak peek into how our all-in-one platform works
Launching a token distribution event, or TDE, doesn’t need to be complicated — but too often, it can be.
Any entrepreneur looking to raise money for a new business or blockchain project will quickly discover just how much time and effort is involved in a TDE. For starters, you need to know how to create an Ethereum token and smart contract — or find the funds for an experienced development team. Then, once you’ve developed your token and smart contract, you need to be able to market your crowdsale and ensure that it will securely follow the instructions set out in the smart contract; usually, while developing your project.
For many startups, there simply isn’t enough time (or funds) available to ensure this DIY approach delivers the level of professionalism required for a successful sale.
That’s where Rocket comes in. Rocket by Etherparty is an all-in-one platform designed to make it easy for entrepreneurs, business owners, and creatives to set up, launch and track a TDE without a development team.
How Does it Work?
Rocket provides a secure platform to create, manage, and market your digital token and crowdfund with smart contract technology. Rocket enables users to upload audited smart contracts, create a digital token on the Ethereum or Bitcoin blockchains, and market the sale directly from an active marketplace. Additionally, all Rocket users have access to expert support during the setup and sale.
The below step-by-step guide gives you an in-depth sneak peek into how Rocket works.
1. Create Your Project
Rocket uses a guided workflow to make it simple to create a token workflow. The first step is to simply create your project by adding a project name, tagline, and description. You can also choose to tag your project in up to three categories to make it easier for would-be contributors to find your sale.
2. Add Your Branding
Customize your project by adding your company logo, a banner, and links to your professional website. Remember, your website should have clear messaging, your white paper, and links to your project’s social media accounts to make it easy for potential contributors to learn more and join your network.
Given the hacking scandals that have plagued the cryptocurrency community, it’s also important to present the pedigree of your team to help establish legitimacy. Rocket gives you the option to add information and photographs about your team, as well as links to their LinkedIn profiles, to give potential contributors insight into who is involved.
3. Establish Your Token
What will you call your token? It’s helpful to have a name that is easy to remember with your project. You will need to add a token name, as well as a symbol, which will be between three and five uppercase characters. For instance, Rocket by Etherparty uses FUEL tokens.
Rocket by Etherparty is a token-agnostic platform that uses Ethereum and Rootstock blockchains. Choosing Ethereum allows acceptance of contributions of Ether (ETH), while Rootstock supports acceptance of Smart Bitcoin (SBTC).
4. Add Your Crowdsale Information
You need to consider how many tokens you will make available, how long the tokens will be available, how contributors can buy tokens, and when those tokens can be used. In Rocket, you will be guided prompted to add sale-related information, including:
- How many tokens will you supply? This can be 1 to 1 trillion or more.
- What wallet address will you use to receive contributions? You need to include a valid ERC20 address. All contributions will be sent to the crowdfund address, then forwarded to this supplied wallet address.
- How will you allocate tokens? You can set and utilize up to 10 allocation groups, such as presale, team, platform, and reserves.
- What are the allocation addresses? You will need to add a unique address to each allocation you have created. Each address should start with 0x and consist of 32 characters.
- What (if any) vesting period will you use? Vesting periods lock token allocations for a period of time. The vesting period starts when the sale ends, and can last from zero days to multiple years.
5. Create a Pricing Structure
Token distribution events are generally released over a number of rounds. Rocket allows you to set rounds and pricing for each round. You will need to determine how many rounds you want to create (up to 10), how many days each round will last, and what the price will be per token for each round, based on ETH or SBTC.
6. Develop a Plan for Unsold Tokens
You need to specify where you want to send any tokens that remain unsold after the crowdsale. Alternatively, you may want to “burn” tokens (permanently remove them), which will remove them from circulation. Either way, you can easily determine what should happen to any unsold tokens.
7. Deploy Your Smart Contract
Now for one of the most important steps–it’s time to launch. With a click of a button, you can deploy your token crowdsale contracts on the specified blockchain. Once deployed, users will receive a public contribution address and can schedule when they wish to contribute.
8. Schedule the Token Sale
You can schedule the TDE to begin at any time and date, with the option to modify this start time up to four hours before launch. It’s a good idea to keep the sale date to a specific time, as you will want to market the date and time of the sale ahead of time.
9. Get Featured on the Rocket Marketplace
Review your unique landing page by selecting “Preview” on your dashboard. This page is built from the information you provided in the project details, token, and sale form, and will be visible to the public, so make sure all the information is correct before you proceed further.
Once you’re happy with the landing page and your smart contract is deployed, you can publish your landing page to the Rocket public showcase. Simply select the option to “Make Crowdfund Public” and your page will be visible to investors on the Rocket Featured section.
You can remove your page from the Featured section at any time by selecting the “Hide” option. You can update your landing page at any time by selecting “Publish Update.” Updates only apply to company or project information, as you will be unable to change token or sale information once your smart contract is deployed.
10. Collect Your Contributions
You will receive contributions from anyone that sends cryptocurrency to your provided contribution address. Ensure your contributors only send the currency that you selected when setting up your token (Ethereum or Smart Bitcoin). You can view your contributions in real time via the dashboard.
All users can set up and manage 2FA. This will gate key actions, such as user log-in, and deploying and scheduling a TDE.
And that’s it! In 10 steps, you can create, launch, and market your TDE. Thankfully, if you have any questions at all along the way, our expert team is more than happy to answer your questions. Contact sales@etherparty.com to find out more and sign up for a free trial of Rocket by Etherparty.
