HOW TO LAUNCH STO (security token offering) AND WHICH PLATFORM TO CHOOSE ? SHARE YOUR EXPERIENCE
|If you, my dear reader, aren't familiar with blockchain technology and security tokens and you do not share interest in these topics, then this post isn't for you ...|
... however, I would still love to ask you to resteem it (I hardly ever ask about it) so this publication would reach out to more users. Perhaps someone out there will be able to help me out, as I really need it.
Today I would like to share my own bit of unfortunate experience I have with the idea of launching an STO. I hope that this publication will reach more people, who could point me in a different direction since the current one isn't working out too well for me and my client.
|For the past several months, I've been a part of a team of an existing swiss company with the initial goal to launch an ICO in order to raise funds for futher expansion.|
We started discussing this idea sometime in 2018 and it was already obvious to us that ICOs are not the way to go since our goal wasn't to provide users with a utility token. What we want is to provide investors with partial ownership of the company. For a brief moment we've considered masternodes as a solution, however we quickly realized that launching an STO is the only right solution.
So far, so good. Decisions were made, the initial budget approved, we worked on our whitepaper and prepared a business plan explaining how raised funds would be used. I've been building contacts with people passionate with blockchain (both on steemit and outside) and preparations were slowly moving forward.
Finally, we came to the point, that we had to decide which platform would we chose to launch the STO. We've considered a few that were available on the market at that time: polymath, smart valor, harbor and few others. And making that decision turned out to be the most challenging.
|It wasn't really an easy choice, as the amount of availabe information about those platforms has been very limited.|
Plus the lack of proper regulations was another issue. We finally made our mind and reached out to the team behind one of such a platform. I won't publicly bring up this company name here, since I believe that it was terrible decision which I regred so far till today.
Initially we've received some support and communication was smooth, however after several weeks with the two people that we were in touch with - they quit their jobs, one after another. That left us hanging in the air, without futher guidance. Since then, it feels like we've been BANGING our heads painfully against the wall. Wall of absolute lack of communication.
Sometimes we need to admit that we've failed. Sometimes we're failing miserably. And since we're back to where we started over year ago, that's exactly how I feel.
WHAT CAN WE DO NOW?
|I'm fully aware, that some of you dear readers have enormous knowledge and experience regarding STOs and today I would need to ask for your help.|
Please share with me the names of other platforms you would recommend if you were us: planning to launch your own STO, existing business located in Switzerland.
I would like to ask about reasons why would you choose the recommended solution? Any examples of succesful STOs being launched on suggested platform? Every feedback matters to me and I read all comments. So the more you write, thebetter :)
On top of my appreciation, I'm setting up a steem-bounty
worth 30 STEEM and I will also upvote most interesting replies with 50-100% of my upvoting power (27k SP and 8k PAL) to reward valuable comments.
Partners supporting my work:
|Are you passionate about blockchain technology and you're on Linkedin? Add me and drop me a message: https://www.linkedin.com/in/piotr-leib/|