By the end of this lesson you’ll know which free tool answers which research question and how each one can mislead you, and you’ll have a one-page note to fill in for any project you look at.
Reach the tools safely
Research sites get faked the way wallet sites do. In December 2022 the FBI warned that “Cyber criminals purchase advertisements that appear within internet search results.” The ads lead to a page that “looks identical to the impersonated business’s official webpage.”
The FBI said the same ads impersonate financial sites, “particularly cryptocurrency exchange platforms.” Its advice was to check the address before clicking, or to type the real address into the browser yourself.
1
Reach each site from a bookmark you made earlier, or type its address into the browser yourself. Never arrive from a search result, ad or message.
2
Reach a project’s own site from the website link on its DefiLlama or CoinGecko page.
3
Never connect a wallet. Reading these sites needs none.
4
Never sign anything. A research site has no reason to ask, so a site that does is something else.
Match the tool to the question
These are examples of each kind, not a ranking, and each has a free tier; Tokenomist’s free tier lists only one upcoming release.
Block explorer
Question
What’s on the chain, and who holds the token?
Example
Etherscan, for Ethereum
Address to type
etherscan.io
Where it can mislead
Shows the code a proxy points at without confirming it’s what runs
DeFi data site
Question
How much is deposited, and what fees does it earn?
Example
DefiLlama
Address to type
defillama.com
Where it can mislead
Deposits can be bought with rewards
Listing site
Question
What are the supply numbers?
Example
CoinGecko, CoinMarketCap
Address to type
coingecko.com, coinmarketcap.com
Where it can mislead
Supply figures start with the projects
Vesting tracker
Question
When are locked tokens released?
Example
Tokenomist
Address to type
tokenomist.ai
Where it can mislead
Copies the project’s own schedule
Rollup risk tracker
Question
How mature is a layer 2 network?
Example
ETHBEAT
Address to type
ethbeat.org
Where it can mislead
A snapshot; stages change
The project’s governance forum
Question
What are holders arguing about?
Example
Linked from its own site
Address to type
Follow that link
Where it can mislead
The loudest voices aren’t always the voters
Continue with The Crossover Pro
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