Every crypto and blockchain project starts with a vision of creating disruption. How do Crypto projects achieve that very disruption? Through a Crypto Roadmap – a series of points along a journey that shows how that impact will be achieved. A roadmap is an essential part of the Crypto whitepaper (What is a whitepaper? Read our post here).
This post is divided into the following sections:
Need help creating a roadmap? Hypermode Crypto Consulting team can help! This post details our approach.
1. Forces Planning: allows a project to organize their efforts and ensures all the stakeholders are on the same page. This allows for optimal execution. Take the example of Axie Infinity – they put “play to earn” on the map. Their revolutionary roadmap ticks all the boxes: simple and direct, visually appealing, clearly shows what has been achieved and what is next.
2. Engages Community: Community is the heart of a crypto project. Crypto enthusiasts understand the goals of a crypto project (“what” the project is trying to achieve) and milestones (“how” it will be achieved). Community members can be:
3. Ensures Accountability and Tracking: roadmaps create a sense of self-accountability for the crypto project team to evaluate progress. From that evaluation, the team can adjust milestones and resources.
The net-net benefit of the roadmap is that it brings all the stakeholders together and allow them to collaborate with a coherent vision and timeline.
1) Immutable Roadmap
Immutable is a NFT project powering the next generation of blockchain gaming. The Immutable roadmap illustrates simply what the NFT project is trying to achieve. Roadmap allows the community to understand the timeline of a project. It helps build trust by showing different milestones in the product journey. In its roadmap Immutable lists objectives starting from the Trial of mainnet – that will link to the wallet, then opening the marketplace coupled with improvements in the UX. Afterwards comes the scalability and community management to enhance the overall reach.
2) Cardano Roadmap
Cardano is a Layer 1 chain and their roadmap showcases the key phases of their journey in a crisp way. The phases show key milestone that incorporates all requirement from development to roll out. There is a separate section that shows the status of the milestones.
3) Fandise Roadmap
Fandise is an NFT project and their roadmap communicates the vision and plan for the product. The roadmap mentions the NFT rollout plan which in turn allows the community to track and decide when they want to buy in.
To develop a great roadmap, follow these steps:
1) Discover/Research – Identifying the Problem
2) Define – MVP & Use Cases
Once the problem space has been defined, next comes finalizing the scope of the Minimal Viable Product (MVP). What is needed by the crypto product to solve the problem at hand? World hunger is solved by first solving hunger in a city, then state and then country – this example tells how a final goal is achieved by tackling problems stage wise.
3) Develop – Designing the Solution
1) Developmental Milestones: What are the developmental plans? When will a certain set of features planned to release? These are the questions that are catered under this section. This also shows the progress so far made in development.
2) Deployment Milestones: A roadmap like Cardano, and Lisk’s roadmap as shown below are designed in a way where the sections are divided into phases that define where the product is in its respective journey. This allows the community to understand where the product is headed and what kind of versions will be available at what time based on the deployment goals and which part of the product has already been deployed.
3) Feature Availability: This is another common practice when it comes to typical milestones where the different features are listed as per their availability.
4) Airdrops: Crypto projects are hugely dependent on its community. One of the purposes of a roadmap is to engage the community; a timeline helps to communicate with the community is through the Airdrops where the native coin or different NFTs etc. can be distributed among community members as a PR and engagement campaign.
5) Tokenization and Staking: Tokenization is the mother of all incentivization techniques, and a great roadmap uses tokenization as a tool to engage community. Features like staking has recently picked up as one of the community engagements tools to raise funds, thus forming an important part of the roadmap. You can read more on tokenization in our blog here. A good example of a roadmap with this section is of Illuvium’s current roadmap in their whitepaper.
Roadmap brings in the essence of a crypto project – the purpose here is to understand the sense of how to basically make a strategy for a Web 3.0 venture.
Since these projects are not like any conventional projects, therefore the ingredients for its success are sensitive and needs an agile methodology.
Get in touch with us to develop a crypto/blockchain roadmap that visualizes your vision and shows the impact your platform can create.