Topic: Step by step in " DOING YOUR OWN RESEARCH" - page 2. (Read 289 times)

IMHO, these are crucial factors.

You can have the first glance if a project is good enough or scammy. Because having a good website is a big factor that will make investors see that these are professionals. This is just like being on the first step.

And looking at the teams and partners, you can research them on different platforms and social networks if they're real people. Because the scammy ones are just copy pasta's with the name's and pictures.

Wow, I'm impressed. Thank you for this valuable information. It's very thoughtful of you to share this kind of knowledge to make us better investors who can be responsible with our own decisions. If I may add, usually it would add my confidence to the project if they had a real product to offer first before doing some fund raising because it could show their passion and good intentions. Not many would do this gesture; it's kind of rare, and it's really appreciated if they do this because of so many history or scam projects that I've found before. I'm kind of tired of projects that only sell concepts and words. I will absolutely use these steps so my research process will be more organized. Thanks once again.

Nice topic, what you said here is actually correct. Looking at the website, whitepaper and roadmap is not missing from doing your own research, these three are really important.

       The only good thing about what you did is that you shed light on each step in doing your own research and in fairness I just found out the other details that you said here and that's a big thing for me I think and I don't know about others. Too bad I don't have any more smerit to give you. This is a very nice post you made,…

It's a good effort you made about sharing the steps on how to do the dyor because there are still many people in this forum who really don't know what to do like what you said on this topic.
And I just found out about it now, because before all I knew was to read the whitepaper and the roadmap was the basis, even though what you gave was informative and detailed, at least we have some guides to follow little by little. Thanks op

Nice long list of the aspects of the project we need to look for in checking the validity and effectiveness of the project.  I do agree with your list that the component is very important in verifying the hardworks, ability, and insight of the developers.  I would say that the priority to look for about a project is the member of its team and the credibility.  We have seen many blockchain project where they fake the achievement of their team to make them look capable but in reality those are just exaggerated achievement.

Next is the roadmap, we need to identify if the project will realize or wishful thinking.  Many project in order to attract investors in terms of innovation create a road map that is impossble to happen or unrealistic.  Checking and evaluating the project according to the component listed can determine the level of risk we are facing if we invest on that project.  And we all know that the more skilled the developer is, and realistic the project can minimize the risk involve in the investment.

-   Good day to all the members here in the forum, this time I just want to talk about the word DYOR(do your own research) that is often read here in different sections of the forum. I want to detail how we should do it right so that we can choose the right projects that will appear in the field of cryptocurrency. Because I noticed that many people don't know how to do it, they just know DYOR is just that, but the application of it, they don't really know how to start or what is the first step to take. And this is what I'm going to share today,

Things we should look at in crypto projects whether short term or long term projects.

* WEBSITE
       this is the first thing we will look at then we will go to the social media channels to find out the announcements, is the community active, and if we pass this primary information we will jump to the WHITEPAPER or we can also look at the REVIEWS of the projects on youtube channels or ARTICLES.

And right here in this area we can decide if we will continue the research, because this is where we can identify the common red flags in crypto projects. And if we don't like something, we don't proceed. However, if everything passes for us, we will move on to the next step and this is,

* PROJECT DESCRIPTION

     Since we have read the whitepaper, we have been able to find reviews about the project and it seems okay, so we will put it here like;
- Overview of the projects, How does it work?
- what is the governance structure?
- How does it create value if there is an architecture?
This is where we will know if we really understand the project.
Isn't one rule that we need to follow before we invest in anything else is that we need to understand it. And if we don't understand anything in this matter, probably, we haven't understood the project yet and we need to study it again.

* INDUSTRY OVERVIEW

     Here, it is important that we see the market or industry that the project operates in, such as:
- Who are those direct and indirect competitors?
- What are those metrics?
- Is the industry moving a lot?

This is what will be our measure, like for example the project we are researching is a DEX, now we will look at the category where we can use coinecko and coinmarketcap or Defillama to do this. Then, let's check the competitors who are the players who are performing.

* VALUE PROPOSITION

- What is the project bringing to the ecosystem? are the decentralized exchange but its user interface is better compared to others, it can be that.
- What is the competitive advantage? something unique to the project that we can't see in others, like this decentralized exchange is the fast execution that can be compared to centralized exchanges. Reasons why people prefer to use it compared to others or why investors prefer to use it. So we should look for innovation and differentiation.
- why should we use it?

* BLOCKCHAIN

- On which blockchain is it based?
- Does it have a lot of TVL?
- Large money inflows?
Because if the tvl is low it means the demand of the project is low and it is more difficult to pump compared to projects with big tvl. And the tools we can use for this are cryptoflows.info

* TEAM

- Do they have crypto experience?
- Who are they?
- How many people are on the team?
- How transparent is the team overall?
- Are they anon?
For doxed what we can use there is Linkedin or crypherhunter.com blockchain analytic also but the focus of the platform is to track the crypto projects, the company behind them and the product they are building.

* ADVISERS OR PARTNERS

- Who can guide them in their journey?
- Are they any strategic Partnership?

it also helps a lot in projects if they also have extensive experience in such projects. And normnally that is also indicated on their project website.

* FUNDRAISING

- Did they raise funds?
- Which valuation?
- Who are the investors?
- Can they help the project grow?

   It is important that a project has funds because there is no point without it. Normally projects share their fundraising activities.

* FINANCIAL METRICS

   here we can measure if a project has real users and adoptions.
- What are the key financial key metrics (TVL, and Trading volume.
- Is it growing?
- Are their Users?
- Is the protocol generating revenue?
- What is the adoption?

And the tools we can use here are the https://tokenterminal.com/terminal

* ROADMAP

- What is the roadmap of the project? because here we can see the commitment of a project if they have a clear roadmap. Normally, projects are in the whitepaper or website itself.
- Is it realistic?

* TOKENOMICS

- What is the purpose of tokens?
- What is the circulating supply?
- Is it deflationary, inflationary or fixed?
- Vesting and Cliff model?
- What is the token utility?
The tools we can use here are https://token.unlocks.app/ we can see here some details information about how many are locked in a project or daily unlock and many others.

* PUMPAMENTALS

- What is the reason for pumping a project?
- What is the narrative around it? Is it entering the narrative market today?

* COMMUNITY@MARKETING ANALYSIS

- Do they have fake followers or engagement?
- Who are the influencers interacting with the projects?
- Is there a lot of activity around the project?
- Is the community strong?

If a project does not have a community, then there is no reason for us to invest in it because there is no demand. We can see on various social media channels whether it is strong or not.

* RISK

- What do we see as possible risk?
- What are the weaknesses? Does the marketing seem weak?
- Isn't the community that active? the Founders and etc. are unknown.

Here we can measure how much we will put into it if we ever decide to invest. Also we should identify whether the project is short or long-term. It really depends on our strategy. So this research that you will do will strengthen you whether you will invest or not. Because DYOR is not easy but we need it, especially if the project we want has not been reviewed much, it's just a bit laborious but that's how researching crypto is, nothing is easy here.

Have a good day