๐ Are you ready to become a DeFi expert and stay ahead of everyone else?
โ You can only go as far as the tools you use let you.
My TOP 10 TOOLS for researching DeFi protocols.
๐ Let's dive in!
Researching DeFi protocols can be overwhelming, but there are great tools that WILL help you WIN.
Here are some of my favs:
โข @CieloFinance - Telegram Wallet tracker + ALERTS
โข @defilama - TVL and protocol rankings
โข @CoinGecko - Price info and market cap
+ more.๐
โข @DeBankDeFi - Your portfolio and tracking smart money (multiple networks)
โข @DEXToolsApp - Tracking ANY coin (+ for microcaps)
โข @KyberSwap - AI-based trend-detecting tokens
โข @Artemis__xyz - Analyse dashboards
There is more -but for another day (follow for next thread)
Let's go through how these tools will make you a beast in DeFi
It is classified into three steps.
1. Find the token.
2. Confirm the potential and research to reduce risk.
3. Trade and make sure to do it correctly.
โฌ๏ธ
1. FIND TOKENS
Start with @KyberNetwork - @KyberSwap AI trending coins dashboard.
Thanks to @defi_mochi, an awesome threadorr, I found this tool.
twitter.com/defi_mochi/status/1625510233220218882?s=20
You will go here:
kyberswap.com/discover?tab=trending_soon
And you will look for tokens that are listed.
Another way to FIND TOKENS is to use @DeBankDeFi by tracking smart money.
Find the HIGH IQ traders through various means. (Will post a thread on how later).
Having found the HIGH IQ traders, add them to @CieloFinance Telegram Wallet tracker and get ALERTS on everything.
2. Confirm the potential and research to reduce risk.
After doing one of these things, you have found a token either by a smart money HIGH IQ player buying it or found it trending.
Research the token and confirm if it's based on trending narratives.
๐ฎIs it AI? Is it ZK?
Use this key app: @Artemis__xyz
app.artemis.xyz/dashboard
Confirm the token or the network its on has a healthy longer-term good sentiment.
1. Chains dashboard includes data on:
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Fundamentals (number of addresses, transactions, TVL).
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Stable Coin inflow/outflows.
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Social data (Twitter followers).
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Trading behaviour (price, market cap).
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Valuation multiples.
Check the Developer Activity dashboard lets you quickly see the change in the number of Weekly Commits and Weekly Active Developers for a particular crypto ecosystem over time.
Commit is the smallest unit of work a developer(s) puts into a project. You can easily see if the developers are working or the project has been long dead.
Weekly Active Developers are the number of developers who have pushed at least one commit during the week.
Check more information through @defilama & @CoinGecko. Market cap? Supply? etc.
Go to Twitter - check what the sentiment is. What are people saying?
Any smart ones recently wrote something important?
Finally, go to @DEXToolsApp
- Look at the price
- Look for low volatility
- Look for descending triangles
- Look for good entries.