Have you seen Silicon Valley?, the HBO show. If you haven’t, the premise is simple
The series focuses on five young men who founded a startup company called Pied Piper in Silicon Valley
Ridiculously funny and some times uncannily realistic, whether you are an startup founder or employee or just curious about start-ups, you’ll relate to a lot of things
Being part of an small startup can be fun but the road is fraught with all kind of perils, hurdles, mistakes and lessons.
However, unlike that TV Show, we are real, it’s true it can be fun most of the time but not without its dose of accompanying hardships and frequent struggles to keep the project afloat. That for another post
In the show, they ran out of funds a few times and have to pivot some others. Competitors copy their ideas, projects and even code. A continuos race against the clock and a fight for survival. In the last season, they came up with an idea to capitalise on the ICO frenzy. ICOs are similar to IPOs only that the company is not selling shares but cryptocurrency tokens/coins. Despite having some funds from VCs, an ICO gave them liberty as there’s no need to concur to the conventional funding processes and no need to issue more shares.
We too wanted to raise funds this way, we were one of the projects with a working prototype, we will make, we thought. CycloShield Nano will collect real time information (only if you opt in) and it makes sense to rewards users for doing so. This would be a natural use case for a token. Keeping that information available could be another use case for a blockchain. So we started working on formalising the whole thing.
In the beginning was the White-paper
Our white-paper came together quite quickly and we had the deference of using LaTeX to write it. A good habit that seems long lost nowadays.
We wrote our own implementation of CycloShieldCoin, We even wrote our own smart-contract to raise funds but we didn’t want to expose our backers and ourselves to a potential bug there so out of prudence we decided to find an ICO platform to host ours.
Looking for a Trustable platform
After some due diligence, we contacted a few platforms, some hosting huge projects collecting mind blowing amounts. At that time, we pretty much had a solid White paper, peer reviewed and a nice looking website but not much of a community behind
FundYourselfNow was the only one responding, and they said yes. Hooray!. We were very happy that night. We were still not aware of how hard it would be and the masses of hard work lying ahead of us.
Time zone differences didn’t help, most of your meetings happened at 6am and they requested and suggested many changes to our white paper, so our token and some functionalities were altered to accommodate their requests as fast as we could.
Hardest part was possibly agreeing on a date and the amounts. We possibly had less resources for marketing than they originally thought but we still could pay for some bounty campaigns and to get featured on specialised media. We are very thankful to FYN, specially Kenneth, their CTO, always there to help.
This all happened during the big bull market, not only cryptos went up like crazy but every service around them did. Ads, Advertorial content, anything you can think of was ridiculously overpriced.
The Moment of Truth
Some private investors approached us wanting to buy a sizeable amount of tokens but it didn’t pan out.
We didn’t make through the pre-sale and therefore decided to call the ICO off to preserve the funds for our core product, CycloShield Nano. However, we learnt a lot during the process, specially about Marketing and how important listening to the community is. Since then, our team grew and now we have a Marketing expert to help us bring the community a product they’ll love, a product you’ll love.
This won’t be the last article depicting our parallelisms to the adventures and misadventures of the brilliant tv show Silicon Valley. Follow us on our social media below and let us know if you enjoyed this post.
We want to dedicate this post to all the people that believe in CycloShieldCoin, although we are not promoting it at the moment to not stretch ourselves too thin, it doesn’t mean we don’t have a plan for it. When our product finally makes it to market, we will be finally able to implement most (if not all) the intended functionalities the token has.