Rating Methodology by Icobench
While evaluating a new ICO project, our team looks at the specific set of factors that can determine which product has a potential to become the best ICO 2023. Some of those factors are easy to discover, compare and make conclusions, while others are merely based on the experience of our team in the crypto world.
Token economy, also known as Tokenomics, is one of the most important factors that our team pays attention to. Choosing the right strategy for the token evolution is the first step towards success and profit. Companies usually use a few familiar economic models. The most popular and trusted model is called deflationary. It puts a hard cap on the number of tokens issued and raises the price of the token with token burns. That way token can become more expensive and succeed in the market. Investors must know what tokenomics the project uses so they can make sure everything going according to plan.
Roadmap and milestones
Every new ICO project usually presents investors with the exact plan for the nearest future which is represented by a roadmap. Milestones are a direct proof of already done work on a project and can serve as a great indicator of the company's serious intentions. Goals achieved already help users decide whether this new ICO project is something they would love to be a part of. The other thing that should not be overlooked while evaluating the ICO project is their credibility. When a team promises something and doesn't deliver, it undermines the trust in the project and can be a sign of a poor management.
A very overlooked but crucial factor in the project success is the team experience. Of course, newcomers can also get lucky and create a good project, but only people with prior experience in a crypto world and crypto projects can really create something profitable. Developers that previously worked with crypto can create a new product faster, and managers who are familiar with new trends can guide the flow of the company development to success.
The speed of development for different ongoing ICOs can vary significantly. Choosing the project, according to the desirable date of the finished product is important. For example, a project might look interesting, but according to a roadmap the finished product would not be delivered for years. If that doesn't align with your interests in regards when you want to receive profits, it would not be a good idea to invest.
One of the easiest to see indicators of a really good project is a good project description. Comprehensive explanation of the new ICO goal for the project is a sign of a well-structured and well-thought-out system. Starting with a project description to see if the project fits your interests first before going into deep reading of white paper and other documentation is a valuable step for investors in order to save some time.
One of the most overlooked factors while evaluating the new ICO project is anonymity. A trusted company will always show the faces of their team. That gives the company credibility and makes it more trustworthy. Only the projects that are not sure about their project success would hide faces and don't talk to their community at all. With this comes the next point.
AMA (Ask Me Anything) sessions are special presentations/calls that companies usually hold in order to talk about new features and news, addressing some important updates and answering any questions that investors might have in regard of the project. Trustworthy new ICOs will always have those AMA sessions scheduled often and any investor that wants to participate can join an open conversation about the product.
Our team of experts believes that it is not about the size of the community, it's about the movement. The most important thing to look at would not be the numbers, but how active the members of the community are. How often do they participate in the AMA sessions, how active are they in the projects, how long have they been there, how often do they speak to other members. Another important variable is the fact that the more members are in the community, the less profit any new members will receive, as the early investors will get the best profit.
While evaluating a new upcoming ICO project one should not forget to deep dive into the social media accounts of that project. The more information you find – the better. A trusted ICO will always have a strong social media presence alongside with a great communication with their investors via different platforms. Twitter and telegram considered to be the best to do so in 2023 and checking out if the company provides contacts to those socials and joining them, might be beneficial to make a decision in regards of investing in the projects user is interested in.
This is one of the hardest factors to work with and analyse as no one will know for sure if the project will succeed or fail. So how do we actually predict the stability, growth and success of the new ICO 2023 project? The easiest way to actually try and understand the success rate of the idea and a product is to look at the similar products on the market. Good success rate would have a fresh idea that a market has a need for. For example, it would be hard to create another successful product like Binance, as not only Binance is quite well-known and massively used, there are also plenty of other exchanges.
The team of Icobench has been evaluating new ICO projects just so new investors would become familiar with upcoming ICOs 2023 and choose the ones that they are interested enough to invest in. Rating methodology is a tool that helps Icobench to make decisions in regards of the projects and to give them the ranking our team thinks is the best suited. Nevertheless, Icobench does not give any financial advice and encourages users to research thoroughly everything they can about the new ICOs they would like to invest in. We wish you good luck with your new exciting opportunities!