Although there is a lot of knowledge about Security Token Offering on the internet, it’s important to have guided, step-by-step assistance which is suitable for your specific case. Each venture is different with a unique target group, business needs and legal environment. Based on your specific business requirements, lawyers, engineers and the product team will choose the best possible solutions to secure your enterprise and conduct your security token funding successfully.
The Workshop and its Outcomes
One method of successfully gaining security token funding is to conduct a workshop session with the client which usually lasts for 1 or 2 working days. There are several important aspects that need to be discussed over that time in order to offer clients a tailored-made solution for their MVP project.
Here is the comprehensive list of the main aspects which need to be covered and which will be included in the post-workshop document.
- Business Model Canvas – This is a strategic management template used to develop new business models or to document existing ones. It visualizes key aspects of the company such as (but not limited to) customer segments, value proposition, key resources and cost structures. It helps to gather and link all the crucial elements into one place and therefore, helps to recognize new revenue streams.
- Working on Personas – During a workshop, we need to define segments of the customers/investors in order to get to know them better and figure out what kind of product will fulfil their needs and relieve their pains.
- Value Proposition Canvas – At this stage, we propose specific features of the web/ mobile app/ business which will respond directly to the customer traits mentioned in the previous point. Creativity is the key factor in order to succeed at this stage.
- Value Effort Canvas for MVP – We know our customers have a limited time and budget. This methodology will help us to extract those features which bring the most value and cost the least. This will consist of the so-called MVP – Minimum Viable Product – but we prefer to call it the Minimum Valuable Product because we outline all of the essential features that will bring value to your future investor from day one.
- Blockchain Platform Proposal – Based on the functional and non-functional demands, as well as the above-mentioned activities, our engineers and architects will be able to choose the right blockchain platform to ensure that the whole process of STO is safe, smooth and efficient.
- KYC/AML, Custody Services, and Wallets – These are essential services which were mentioned in our previous article [tutaj link do B2]. They all need to be compatible with the chosen blockchain platform, jurisdiction, business needs, and profile of future investors.
- Product Benchmarking – Each product works in a certain business environment and among certain competitors. In this section, we will describe the most successful STOs from your industry and outline the most interesting solutions available.
- Tokenomics Proposal – This describes the behavior of the newly minted tokens among the newly created business ecosystem. It consists of elements like planned inflation/deflation, fees, the amount of the burndown tokens, a reward for the community, the amount of tokens in the liquidity pool, and the token distribution plan.
- Legal advice – This entails basic elaboration of the legal requirements in your specific business case and its jurisdiction.
Essential Competencies for a Successful Workshop
- Fintech Experience – This requires the presence of a specialist who has experience in fintech projects. This experience can be, for example, in cryptocurrency exchange development, wallet for tokens development or cooperation with service providers like custody.
- Developers/Architects – We provide the best specialists with broad horizons and many years of experience in the IT sector (including multiple years in the blockchain sector).
- Designers – They are crucial to the project as they will design a beautiful website and/or application to deliver your investors a great experience when working with your investment products.
- Product Manager(s) – They are responsible for transferring vision into a working product that delivers value and sales to your customers. This person needs to understand the STO process, blockchain technology and be able to communicate both with tech and business partners.
After the workshop, the LEOCODE team prepares a post-workshop document with a comprehensive description of the key elements mentioned under the workshop and its outcomes. This will consist of:
- a summary of all activities conducted during the workshop, including:
- the Business Model Canvas.
- Personas profiles.
- Value Proposition Canvas.
- Value Effort Canvas.
- legal demands to the specific business case.
- proposals for both product and technical solutions which outline elements like:
- essential integration with 3rd party services and how they will be implemented.
- a key feature that needs to be developed to deliver value to your investors from day one.
- product benchmarking.
- a tokenomics proposal.
Want to know more?
Still hungry for more information?
Then sign up for our free, 30-minute one-to-one consultation with our specialist to start your security token funding right away. We will discuss the most important aspects of your business challenges and initial solutions for them.
If you have decided already that this is the right service for you, contact us immediately to grab your place and don’t lose any time in setting a date for your workshop exactly as described in the post above!
Author: Boleslaw Kruszewski