~How to DYOR? ~
DYOR is an acronym that stands for ‘Do Your Own Research’. It is a common phrase used to encourage investors to carry out their research about a project. How exactly do you DYOR? A thread 👇🏽
DYOR is an acronym that stands for ‘Do Your Own Research’. It is a common phrase used to encourage investors to carry out their research about a project. How exactly do you DYOR? A thread 👇🏽
There are several ways of carrying out a research on a project they include :
1. Knowing the Project and Use case of the project
This involves identifying the usefulness of the token
- what protocol is it under?
- what problem is this project solving? Read all there is to know
1. Knowing the Project and Use case of the project
This involves identifying the usefulness of the token
- what protocol is it under?
- what problem is this project solving? Read all there is to know
2. The community
This is very important in DYOR
You need to know the project’s community. You could check their Twitter and Telegram community to check how active they are/ have been
For Twitter, you are to look at their pinned tweet, when last a tweet was made
This is very important in DYOR
You need to know the project’s community. You could check their Twitter and Telegram community to check how active they are/ have been
For Twitter, you are to look at their pinned tweet, when last a tweet was made
Any upcoming event etc.
For telegram you are to check the number of active members and scheme through and see if the project is convincing enough
For telegram you are to check the number of active members and scheme through and see if the project is convincing enough
3. Venture Capitalists
A venture capitalist is a person or company that invests in a business venture, providing capital for a startup or expansion in a project
Simply put, A venture capitalist is an investor credible enough to make a difference in a token
A venture capitalist is a person or company that invests in a business venture, providing capital for a startup or expansion in a project
Simply put, A venture capitalist is an investor credible enough to make a difference in a token
They believe in the token and see it as a good investment and so they invest in it. You need to know the people that are behind the development of the project / token
Let’s say a project is built on anonymity, doesn’t that look sus?
Let’s say a project is built on anonymity, doesn’t that look sus?
You need to know if the venture capitalists are credible enough to be trusted
4. Roadmap of the project
A roadmap is a strategic plan the token or project has laid out for itself to accomplish simply put.
Roadmap of a project gives access to investors on the why and when (s) of a project.
A roadmap is a strategic plan the token or project has laid out for itself to accomplish simply put.
Roadmap of a project gives access to investors on the why and when (s) of a project.
You need to see - by the roadmap if they have accomplished all they said they would also what upcoming events you’re to look forward to
5. Tokenomics of the project
This is defined as the detailed study of the economics of a token (token- economics)
In here you look at the token’s Market cap, current Price, Circulating supply, Total supply, Tvl, All time high, all time low etc.
This is defined as the detailed study of the economics of a token (token- economics)
In here you look at the token’s Market cap, current Price, Circulating supply, Total supply, Tvl, All time high, all time low etc.
6. Check if the token has been audited
An audit is an official inspection of a project, typically by an independent body. If smart contracts are not audited, they can have bugs which are viruses that could siphon or divert funds from the smart contract
An audit is an official inspection of a project, typically by an independent body. If smart contracts are not audited, they can have bugs which are viruses that could siphon or divert funds from the smart contract
And once funds are diverted or siphoned.... you wouldn’t have funds to call yours💔
7. Your conviction
This is my best😅, you’d see why dw
According to Oxford, Conviction is said to be a *firmly held belief or opinion*
In Fundamental Analysis(FA), Conviction is your personal bias that you’ve gathered so far
This is my best😅, you’d see why dw
According to Oxford, Conviction is said to be a *firmly held belief or opinion*
In Fundamental Analysis(FA), Conviction is your personal bias that you’ve gathered so far
i)are you convinced
ii) Does the project convince you, are you certain it’s wise to invest?
Are you sure you are going into this project solely based on your belief after intense FA?
ii) Does the project convince you, are you certain it’s wise to invest?
Are you sure you are going into this project solely based on your belief after intense FA?
Another thing to add is ; you need to know your budget
What you can afford to risk, to lose, to earn
What you can afford to risk, to lose, to earn
But then Za, how will I make these long research, wasting the time i would have used to ape in and be on X3?
As much as researches are very advisable in my opinion
You could use dexscreener.com to look for a good entry to know when to buy into the project
As much as researches are very advisable in my opinion
You could use dexscreener.com to look for a good entry to know when to buy into the project
If you loved this
You can check my other threads👇🏽
You can check my other threads👇🏽
Kindly like, rt and follow 🙏🏾🍷
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