Do Your Own Research

Do your own research

DYOR means Do Your Own Research. You have probably read that sentence a lot, especially when serious people are talking about possible crypto projects to buy. Any project / influencer not encouraging you to do your own research should probably be ignored.

This space is full of scams, rugpulls, technical issues, overvalued projects, bad tocenomics, etc. This is not always due to bad intent, sometimes it might be ignorance, misunderstandings, different priorities or just a simple coding mistake or an idea, which did not work out.

We are still in the very early stages of decentralized finance, crypto currencies and smart contracts / blockchain development. Therefore the risk is high, but so might be the reward.

You have to understand, that there is no reward without risk. Especially in investments, you get rewarded for taking risks. The higher the risk, the higher might be the reward.

With a proper research you are trying to decrease your risks, and still have a potentially huge reward. That reward might be a big return in dollars, but also meeting interesting people through participating in a project, learning new things and technologies, etc. I just want to mention that there are other kind of rewards as well.

But How?

Doing proper research is a time consuming task including many different steps and different data sources. We outline some of the most important steps here and go into more detail later.

But to give you an idea about one very important aspect of crypto research, check out little writeup on Tocenomics.

• Analyze the Tokenomics of a project

• Check the team (if available)

• Look for security audits

• Analyze the socials (Twitter, Discord, etc.)

• Analyze the on chain history (Holders, Contract creation, Transactions, Distribution, etc.)

• Analyze the market segment, the narrative and the sentiment

• Review the Source Code of the contracts (Github / Blockexplorer)

• Check the available liquidity and if its locked

• ...

There are a lot more steps involved, and we will add them, as soon as we progress in implementing them in OrbAnalytics.