“Life will definitely be interesting” — RSquad CTO comments on blockchain development and launching startups

What’s going on with launching crypto startups? What mistakes do startup teams make, and who deceives them? What changes have been made to IDOs, and is it realistic to get investment support from the community? Roman Nguyen, the CTO of RSquad, dwelled on these issues and the prospects of blockchain technology in an interview given to SeedOn.

Here is the text version of the material which will be helpful to developers, startup teams, investors and those who are just interested in the life of the crypto-world.

As part of your activity, you work a lot with crypto startups, help them attract investments and successfully launch their token. Tell us how things are now in the crypto startup market as a whole?

Roman Nguyen:

  • First of all we need to understand that the crypto startup market is directly related to the crypto market as a whole, and we all know what is happening to it right now, but to answer the question more specifically, let’s not touch on trading, farming or the bitcoin rate, but consider such aspects as attracting investments, listing, community development and so on.

Alright, this sounds great and it definitely holds plenty of details! However, in the past couple of years, we have seen in the crypto space quite a lot of scam projects or rug pulls. How can the risks be identified and what is worth pissing about?

Roman Nguyen:

  • It is worth being afraid of everything, it is more accurate to approach any issue with a fresh head and without emotions. More specifically, the danger really awaits everywhere and everyone.

What can people do to avoid this type of scams?

Roman Nguyen:

  • Of course, there is no universal solution. I think that you need to work only with trusted counterparties who have real cases and not be fooled by the promise of mountains of gold — free cheese is only in a mousetrap.

You said that due to the decrease in the investment activity of funds, you can try to collect money from the community, how is that?

Roman Nguyen:

  • In fact, we ourselves faced this problem, our launch took place in the first quarter of 2022, when the market was no longer in good condition. We went to the funds a lot and knocked on closed doors. One way or another, we developed, built our project and formed a community. When the first IDOs passed, we saw that our community was ready to invest, and we thought — why don’t we try to collect our private round among them?

Yes, you have already talked about inexperienced owners and how they waste their resources. Could this be the issue?

Roman Nguyen:

  • Certainly, I think this is the point. Write everything yourself, do everything yourself — these are o en harmful ambitions of beginning managers.

So after all, how have the IDOs changed in the last year? How has the overall market situation affected your operations?

Roman Nguyen:

  • I think the biggest change in IDO is that IDO has moved from being a fundraising tool to being more of a marketing tool. In principle, we came to where we started, when IDO was about guaranteeing liquidity and the uniqueness of participants.

Blitz! Give 5 tips on how to successfully launch young projects and not fail in the first days after listing?

  1. Take care of your community — these are the only people who are really interested in your success.
  • review your tokenomics in favor of creating a shortage of project tokens on the listing;

5. Opt for DEX listing. They guarantee the provided amount of liquidity, no blocking of deposits and withdrawals.

Thanks for the informative replies!

RSquad is a blockchain lab that has implemented more than 75 projects in such networks as Bitcoin, Ethereum, Solana, TON, etc.

RSquad Official media: Website, Facebook, Instagram, Linkedin, Telegram, VK, Twitter.

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RSquad is a international team of experts specialized in the development of decentralized information systems based on blockchain technology.

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Rsquadlab

RSquad is a international team of experts specialized in the development of decentralized information systems based on blockchain technology.