Points you made are correct, but they're not specific. The industry already has millions of crypto projects, but only a few are truly making a difference. You can't offer potential investors the nonsense that your project is the same as Ethereum (ETH) which uses PoS consensus or it has great scalability like the Solana (SOL) network. So, in WP, your project must have differences in the form of value proposition, offering something that makes sense to those investors.
About the first part, thanks for clarifying the whitepaper for me. For the rest, completely agreed. I personally like SOL because of the exact point of being really scalable. Also I am interested in TON and its good children (Telegram Stars, STON, something which offer a real value) and they're just a "currency" for Telegram's ecosystem which has a real-world value. I guess a new token/coin may have this type of value to have investors convinced.
Replace the Introducing the project in a summary/brief with usability and what the project is trying to solve. This is the most important; without it, the project is just average.
The whitepaper should convince readers that it has something to offer the cryptocurrency industry as a whole, and it's something unique.
Investors want to be an early bird on a unique project; if it's something new, expect strong support.
What you explain, makes me think about whitepapers like
a really detailed pitch deck which has the goal of convincing early birds and investors.
I think what you've missed is the question what makes you excited about memecoins.
It's because not many of us are excited with them anymore and we're barely reading them. Maybe, we're also past with that and that's why it doesn't interest us anymore.
While all of those you've mentioned about what it contains are likely it is, I think that you're really interested in investing to memecoins.
Well, I'm just interested in those because it gives me a feeling of they took the project seriously. Otherwise, the only "memecoin" I've ever traded was DOGE. I guess at this point, it's not considered a meme anymore and it is one of the leaders of the industry.
This is general outline indeed.
Whitepaper is supposedly to be good and full of technical knowledge like bitcoin's whitepaper. But nowadays developer just put whatever they think fit inside the whitepaper.
The fact that even meme coin have whitepaper means there's something wrong. Are they presenting their ultimate meme of the year or what? doesn't make sense to me.
But overall, bitcoin's whitepaper is what a crypto project's whitepaper should be. Talking about the real solution to a problem not just overly focusing on tokenomic and how the developers can mint token out of thin air.
I remember when I finished reading it, one of my friends - who was working in a local CEX - recommended reading
Cardano's WP as well. I told her I'm reading ETH's now, and I haven't read Cardano's despite years being passed from that they. I don't know why she recommended that particular one, but a while after this conversation, I remember
Chia made a hype. I read that one as well. It also was a good and well-detailed one.
And about memes having a whitepaper, I explained in the next one why I may like them. I don't know, maybe I'm wrong myself.
You mentioned being impressed by memecoin whitepapers. Honey, thats like being impressed that a stripper told you her real name. Its part of the fantasy. A memecoin whitepaper is just "Technical Fan Fiction." They use big words like "deflationary hyper-burn" to distract you from the fact that the coin has the utility of a chocolate teapot.
And I love seeing the Team section in these whitepapers. Its usually just a bunch of guys in hoodies claiming they once worked at big companies. We call it the "Trust Me, Bro" part. LOL!
Fun fact, I've never met a striper in my life
Jokes aside, I read one of them which was for
bonk on TON which was a copy of
bonk which is originally on SOL. They just explained how they got impressed by that and the only person mentioned was the original minter and not a team.
Although, you've made a very good point. Fact checking of someone working on a large company - specially in a memecoin context - is something no one wastes time on. However, I'm still feeling it would make even a meme project much more trustworthy compared to other ones.
