The Ultimate 6 Step Guide to DYOR that takes less than 30 mins.

What does DYOR actually mean? I don’t mean what does it stand for (it’s ‘Do Your Own Research’ in case you are new here) I mean what does it actually involve for you!? I’ll tell you what DYOR means for me as a minimum…

1. Firstly you must check all public social media profiles especially Twitter. When I say checking I mean looking at things like, what is the current follower count, when did they join the platform, what kind and how many comments do they get and does that volume match the follower count? Are they busy, do they post daily etc? Is what they are posting unique and original?
2. Next go into the Discord channel (they should have one) and see if it is well organised. Are the mods available to answer questions and deal with issues? What is the general chat like? are people excited about the project or talking of price action pumping only?
3. Now head to the main place that the project lives on eg the website, app or game. What is the general feeling you get from it? Is it attention catching, does it work and flow nicely, is the artwork/design nice and congruent with the project goals and direction?
4. It’s time to check Etherscan (or the equivalent for whatever chain it is on). You need to find the contract address of the NFT or crypto asset first of course. If they don’t publish that somewhere, why not? Look for how many holders they have already, what is the volume of transactions, find the contract creator, what else have they produced? Visit the ‘holders’ tab and see how it’s spread. Do one or two wallets hold all the assets?! This is not good!
5. You must also of course check the roadmap. What does the project promise vs what has actually been done so far. Of the road map have any meaningful steps already been taken? IS the roadmap a copy of something else. Does it promise top much?
6. Finally it’s the Team. Firstly can you even see who is involved? if not thats an issue! Find the names and be a stalker. Linked in is a good start, have a scan through each persons own social channels. Do they publicly announce they work for this project? what have they worked on before? Do they have any influence of their own that could be useful by way of followers etc.

This process may seem like a lot of work but it can be done in less than 30 mins. From these points you will have a pretty good idea about the basics of a project. If it passes this test for you and no flags are raised then you should start to get further involved in it and see if your opinion changes!

When I say get involved I don’t mean invest, I mean just take part in the community, chat with the members and follow the channels etc.

To me this is the start of what DYOR really means!! Get really good at going through this quick process and you will learn to evaluate where there is opportunity and where there is danger!

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