No, you don’t need a white paper for an STO. An STO is a more efficient version of an IPO, so you should instead prepare the same way you would for an IPO. To have a legitimate STO, you need a legitimate business or business idea. If your company is still an idea, you need to express your idea in the best way you can to show people the value of what you want to do and that you can do it. If you have an established business, you need to show off your business as best as you can. If you’ve developed/designed a new technology, the best way is probably through a white paper. Otherwise, standard marketing material would probably be the best way to go. === That’s a question for your securities attorney (you’ll need to maintain compliance with how you advertise your STO based on class filing restrictions). Given STO investors will be accredited, I presume they will want some information regarding your value-prop. I think all STO investors are couple kegs short of a six-pack, as they lack an understanding of the disruptive role utility tokens will play. I haven’t seen an STO model capable of standing against the right utility model. I have yet to see an STO with a dual tokenization model for utility (or dangerous blockchain value prop). But in general, yeah should probably tell the world why the heck you’re using blockchain in the first place.