Around 800 ICOs are planned for 2018. Some are run top-tier specialists, some are scams from the start. But the majority in between are the entrepreneurs from other sectors of IT or economy at all. While business aspects of the ICO are covered widely, the more technical and specific questions are usually left to the expensive direct projects consulting. We'll try to cover the typical questions and challenges we deal with and take a look under the hood of ICOs platforms and investor cabinets.

1. Technical Details of the ICO

2. Structure of our session
Max Semenchuk
ICO Business Perspective (20 mins)
Kirill Kirikov
ICO Technical Perspective (20 mins)

3. About 4IRE labs
We're developing apps for decentralization, process
optimization and better service since 2011
● Blockchain Consulting & Development
● ICONX – Investor Panel for ICO
● Mobile & Web apps

4. Business Perspective

5. Max Semenchuk
Co-founder 4IRE labs
10+ years in UX/UI
7+ years Product/Project Management,
Research & consult on #topics:
Decentralization, Holacracy, Coaching, DAO,
Design Thinking, Lean Startup

6. Scope
● Token
● Crowdsale
● ICO Advanced Techniques

7. Token

8. What’s token / types
Can be anything unique, the promise in the ICO case
Assume you really need a token
● Coin / Collectible?
● Utility Token (Simple Agreement for Future Tokens, Howey test)
● Security Token (Initial Loan Procurement)
*Not a Legal Advice

9. Token Issuance
● ERC-20 Eth, Waves, Stellar
● Inflation (fixed, gradual, continuous)
● Multisig(s)

10. Crowdsale

11. Crowdsale Terms
● Currencies & Rates
● Stages / Discounts
● KYC/AML
● Interface

12. Currencies
● ETH
● BTC
● Monero, Litecoin, DASH etc – Exchanges / Processors
● FIAT / freeze

13. Stages & Rates
● presale → average 1M USD
● Series A → average 5M USD
● Series B → average 19M USD
● Series C → average 35M USD
Discounts on stages
Vesting and funds release

14. Outcomes / Roadmap

15. Volume Discounts

16. Goals
● Hard caps / soft caps
● Refund

17. Know your Customer / Anti-Money
Laundering
● No
● Whitelist (manual)
● Existing Services
○ coinlist.co
○ onfido.com
○ verifyinvestor.com

18. Interface
For Marketing Purposes (Conversion,
Analytics, Support) and Complex Logics
(multicurrencies, freezes etc)
● More complex redeployment
● Low usability issues
● Lots of the traffic from mobile
● Potential hack and scam

19. Advanced Techniques

20. Bounties
● Bug-Bounty
● Advisors Bounty
● Marketing Bounty
○ Airdrops
○ Referral program

21. Reverse Dutch Auction

22. DAICO (by Vitalik Buterin)
Risk resolved: unreasonable and too-high monthly budget
● Tap (amount allowed / time)
● Voting for Tap
● Shotdown option

23. Good Reads
Curated list of ICO approaches
Guide to launching an Initial Coin Offering (ICO) by Chris McCann
ICO White Paper Writing Links — Rough Resources

24. Questions?

25. Technical Perspective

26. Kirill Kirikov
Co-founder 4IRE Labs.
10+ years in software development.
Research and consult on blockchain

27. Scope: From Token to ICO Cabinet

28. Token implementation
- Token it is just a record in the distributed ledger
- ERC-20 Token Standard:
- Those will allow dapps and wallets to handle tokens across multiple
interfaces/dapps. The most important here are, transfer, balanceOf and the
Transfer event.

29. Create own token
1. Install Geth, Truffle and Zeppelin Solidity
2. Create SimpleToken
3. Change name, symbol, decimals and supply
4. Deploy!
You have you own Token!

30. Simple Crowdsale Smart contract
Crowdsale via Zeppelin Solidity: Cheap / Fast / Secure but
inconvenient for investors.
Want to run ICO? Easy!
1. Capped? No problem! Refundable - Easy!
2. Combine options in one contract.
3. Deploy with your own parameters.
You have your own ICO!

31. What’s next?
Wanna sell your tokens? Easy, but only for nerds!
- Complex logic or pricing?
- Accepting bitcoin or alt-coins?
- Logging, monitoring, deployment, scaling, server provisioning!
- KYC?
- Marketing and analytics?
- Customer support?
- Security! OK! You need to run own backend!

32. ICO in production

33. Testing
- Do not save on testing.
- Run 3 environments: dev, staging, production.
- Keep code coverage: ~99% on all environments.

34. Security
1. Cabinet security. Synchronizing different currencies.
2. Multisig wallets. Cold Wallets.
3. Smart contracts. Prepare for security audit!
4. Bug bounty programs. Better to do.
5. Marketing channels hacks and scams.

35. Dev team
1. Solidity engineer
2. Frontend engineer
3. Backend engineer
4. Dev-ops engineer
5. Designer
6. Project Manager
Maintenance
1. Cloud : ≧ 400$ / Month (1 env)
2. Support: X$ / Month
3. Bugs on production: Millions!
Timeframes
- Develop smart-contracts: 1-6 weeks
- Develop cabinet: 4-5 months
- Security audit: 1 month

36. Questions?