A good story of

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How it all began

Meet Adam Todd.
Adam has made a career as a pit trader at a futures exchange, and now he decided to take a shot at Blockchain and cryptocurrencies. Being a futures trade expert, Adam chose a similar field and focused on running an initial coin offering development. His idea was commission-free trading supported by own cryptocurrency.

Trader Adam Todd

Adam Todd

a success trader

We met Adam in November 2017 when he was looking for professional assistance in setting up the ICO for his cryptocurrency exchange. The concept he described seemed rather challenging and at the same time interesting and future-oriented, and we decided we wanted to be a part of it. We have quite considerable blockchain development experience under our belt, and we were excited to embark on another exciting journey into the world of cryptocurrencies.

About the project

We started our cooperation with Adam with a detailed discussion of the project we were going to create together. To start his cryptocurrency exchange which he named Digitex, Adam needed to launch an ICO with the ultimate purpose of raising the funding necessary for his startup as well as creating demand for his native cryptocurrency, DGTX token. He set his soft cap to $250,000 and hard cap to $5,600,000.

$ 250 000
$ 5 600 000

Adoriasoft was to create and support the platform for Adam’s ICO campaign. We began with consulting him on all aspects of initial coin offering development starting with the marketing campaign. At the initial stage, we explained all features and components we were going to include during ICO development:

  • Creation of the ICO landing page
  • Preparation of the white paper
  • Development of backend and frontend of the web app interacting with the smart contract
  • Smart Contract development
  • token development
  • cybersecurity measures.

Distribution of responsibilities

Once the project scope was finalized, we proceeded with defining the specific tasks and allocating experts from our team to the project. In general, the ICO campaign was progressing along the following three directions:

  • Crypto-economy analysis, including preparation of the white paper and adjustment of investors' onboarding workflow
  • Blockchain component creation, including development of a smart-contract and tailoring it to the white paper
  • Web development, including development of the landing page and investor panel, as well as implementation of the appropriate security mechanisms

An important point that demanded special consideration was investor onboarding. Together with Adam, we worked out an onboarding methodology that, on one hand, protected Adam’s business and, on the other hand, was transparent for the investors. As the result, the onboarding process included the following aspects:

  • Compliance with the KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations. Here, it was important to set up the onboarding flow so that it complied with the regulations applicable to multiple jurisdictions. We were inviting investors on the global scale, so our onboarding rules should be acceptable in any country.
  • Customer identity verification
  • Clear explanation of the offer terms and benefits for the investor

Adam planned to launch his ICO about two months, so we had to make sure the campaign was ready by that time. We scheduled the project scope development in one-week sprints planning the features so that at the end of each sprint we could make a short demo for Adam. Usually, we break the scope down in two-week sprints, but due to the limited time, we had to accelerate. Besides, in each sprint, we allowed time for modifications based on Adam’s feedback made after the demo.

Adam was with us at all stages of the project planning making suggestions, setting deadlines and finally approving the project scope and development flow.

Team

In the crypto world, the ICO is one of the critical stages of any business, as this may be the only chance to attract investors. Therefore, the ICO project must be of the highest quality possible.

The team working on Adam’s ICO was enhanced by experts making sure that the key components of the ICO campaign were implemented in a professional manner:

  • Business analyst to plan and set up the investor onboarding. The tasks of business analyst included research of the applicable regulations, creation of the customer questionnaire and working on the customer identity verification and profiling methodology.
  • Ethereum blockchain and smart-contract expert to take care of all matters related to the Smart Contract development in accordance with the terms specified in the white paper.
  • Web application development experts to design and implement the ICO platform and the investor cabinet.

Work, work, work

After the planning stage, we started working on the project in the three areas we defined.

White paper preparation

An important component of an ICO campaign is the white paper introducing the project for which the crowdsale is launched. It is critical that an ICO white paper clearly describes the background of the project, the analysis behind it, and the service it provides, including the technical details of its implementation.

In Adam’s case, we prepared a white paper containing the following information:

  • Introduction to the futures market
  • Main features of commission-free futures trading, particularly, those of the Digitex exchange
  • Main advantages of trading at Digitex

Smart Contract creation

On the basis of the white paper, we developed a Smart Contract for the Digitex exchange. The Smart Contract is based on the Ethereum blockchain and holds all account balances. Thus, the decentralized Smart Contract is an additional security mechanism protecting the users’ account balances even in cases of Digitex being compromised.

Web development

For web development, Adam engaged an own team who created a one-page website for the Digitex ICO. We used it to gather all data related to the scheduled initial coin offering. Users landing on Adam’s website could easily find everything they needed to know about the ICO:

  • Presentation of the exchange and its main features
  • White paper with a detailed description of the project background and plans
  • Video explaining the advantages of a commission-free exchange using own cryptocurrency to cover the maintenance costs
  • Token sale terms
  • Countdown to the beginning of the ICO
  • Introduction of Adam’s team with photos and short bio
  • Company news
  • Community section including own forum and the ICO-related discussion on Reddit
  • Link to the Digitex chat on Telegram also serving as the support service

For the ICO campaign, Adoriasoft developers set up the investor’s personal cabinet functionality together with a cryptocurrency wallet. Through personal cabinets, ICO participants could make cryptocurrency transactions and store the purchased tokens.

ICO websites are often targets of hacking and phishing attacks, so we implemented additional security measures:

  • Trusted hosting to ensure consistent performance of the website and easy handling of peak loads. Besides, a trusted hosting provider can be expected to apply the appropriate security measures and update the environment components as necessary.
  • Firewalls to generate the rules restricting the traffic to and from the ICO website. We set up the firewall rules to prohibit traffic from untrusted sources while not creating bottlenecks for the normal operation.
  • Anti-DDoS mechanisms to protect the ICO platform from high-volume attacks. In addition to implementing third-party protection services, we also included activity monitoring components to detect any deviations.

Timing

We started working on Adam’s ICO in November 2017 when he contacted us for a project consultation and estimate. At that time, he planned to launch the ICO in January 2018 which left about two months for the project development.

Having such a strict deadline, on one hand, presented a considerable challenge, but on the other hand, called for the most optimal and effective development flow. We planned the whole project scope by sprints and tried to keep to them as close as possible.

  • Demonstration
  • Testing
  • Development

Each sprint included development of a particular set of features, testing, and demonstration with an allowance for improvement. Such approach reduced the need to change the completed components to the minimum.

As the result, we delivered
the project as scheduled, and Adam
launched the ICO on
January 15, 2017
as he originally planned.

Result

While we were developing the ICO platform, Adam was simultaneously busy marketing the initial coin offering via mass media and social media.

When the ICO website finally went live, it was complete with all information related to Adam’s futures exchange and the upcoming ICO. The countdown was running, the investor cabinets were available, the discussion boards were open. Everything was ready for the Big Day.

Nevertheless, when it came, we were totally unprepared for the outcome, as the hard cap of $5,600,000 was reached in seventeen minutes. The goal was achieved, and the token sale was closed. We still had some marketing actions up our sleeve, however, they proved unnecessary, as Adam truly hit the bullseye.

Adam shared his impression of his ICO in a video that is now available on the Digitex website.

We congratulate him on a successful campaign and are happy to be a part of it. We believe that Adam’s project is a great example of how to launch an initial coin offering.

What’s next?

Our experience of working with Adam and his team was effective and beneficial both for us and Digitex. We hope that after a successful ICO development service and a blitz token sale ICO, we can continue our cooperation in the area of blockchain development.

Needless to say, we are very glad that Adam appreciated our assistance in developing his ICO and will be happy to take on the development, maintenance and support of Digitex futures exchange. We are positive that our experience, knowledge and technology expertise will match the requirements of any blockchain project, no matter how challenging it turns out to be.

Adoriasoft will be glad to cooperate with you on your blockchain project. We can assist you every step of the way - from project planning and design to actual deployment and support. Visit our website for more information on our blockchain development experience and contact us to discuss our collaboration.

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