Density Evolution of LDPC codes
After much research, I have discovered that there is no "formulaic" way of figuring out what the density evolution should be. However the rule of thumb is that as the number of rows and columns increases, the number of 1s per each row and column should also increase. A common number of ones used is about three 1s per row and column. Of course, one might need to add extra 1s in the rows to avoid even column counts.