Thread by @thedefiprincess

How to move from a DeFi beginner to Advanced in 10minutes📍

This Twitter course will get you ahead of 99.9% of DeFi enthusiasts including all the “experts” in the space

Bonus lessons on How to identify a token that will FAIL

Let’s dive in 👇

At the end of this thread you’ll be a MASTER at:

• How to Do Your Own Research (DYOR)
• How to use the best DeFi tools you have NEVER heard about
• My biggest tips to making money in DeFi

Begin❗️

When you do your research you want to identify 3 things:

• Your budget
• The community
• How fast people adapt
• Tokenomics
• Your PERSONAL conviction

Now let’s dive into the “koko”

How to DYOR: Budget

The best place to begin is dexscreener.com
This is the best place to find newly launched low tokens and make good money from them

Warning: Not knowing how to separate a rugpull from a gem would cause you to lose ALL your funds.

Learn First❗️

How to DYOR: Budget

Another good place to begin is coingecko.com

• Market cap rank from 500-1000s are usually low ones & are easy to flip
• Pick a token that it’s percentages are green & above 20%

A good example👇

How to DYOR: Community

The Twitter Check📍
This check would tell you:

• What kind of token it is/ what it’s used for (Bio)
• The important announcement (pinned message)
• The anticipators and earners (# of followers)

Twitter gets this neat and fast.

How to DYOR: How fast people adapt

This is a “What is trending” check
• Go to coingecko.com
• Click on the search bar
• Pick any of the trending tokens
• Follow steps 1.2 & 1.3

Simple!

How to DYOR: Tokenomics

Where can you find this?
Coingecko too😂❗️

When you pick a project you can find it’s tokenomics just below

How to DYOR: Tokenomics

Tokenomics tell you a lot of things but the most important things to know a x2 token as a noob are:

• The 24 Hour trading volume =at least 10% of the market cap (it is x2 below)
• The total supply of the token is minimal (Law of Demand & Supply)

How to DYOR: Conviction

• Use the above criteria to decide for yourself if everything checks out ✅
• If they do, you’re all SET to buy & make $$

More strategies like these are available in my telegram channel
t.me/TheDeFiPrinces…

The Best DeFi tools

• dexscreener.com & coingecko.com - For basic research
• etherscan.io - For signals on the blockchain
• debank.com - for tracking whale wallets
• dapprader.com - for tracking gamefi tokens

• coindix.com - for today’s best vaults & APY
• defillama.com - for tracking the TVL in a token/ ecosystem
• dune.xyz - track key info & visualize them

How to use etherscan.io

• Pick a token’s contract address from coingecko (0x…)
NOTE: It wouldn’t work for newly listen tokens if you type their names
• Paste it in etherscan search bar

Now that you’ve seen the wallet, scroll down…
• Go to the last transaction the token has ever had—the first every transactions.
• Check for the biggest buys & go further to detect if it’s a normal occurrence

Now that you’ve found a wallet with consistency in buying gems earliest

Warning❗️: Before you connect the wallet address to your wallet make sure you’ve checked all the transactions & the coins they have

Because big wallets get airdropped tokens so that YOU can buy them

Do not blindly ape 📍

Now that you’ve filtered the fake transactions dropped

• Find a coin they ACTUALLY buy —that’s the alpha

• Follow the coin, check the amount of holders of the coin & do your research the way I just taught you

📍My Biggest tips on making money in DeFi

Create a coingecko watchlist

Make a portfolio that you can add your favorite tokens: Move-to-Earn, Play-to-Earn, Gaming, Layer1s etc

This way you actually keep track of all your project and get notifications for them😊

If the market is red, you can filter your watch list to see which coins have dipped.

This allows you to take advantage of buying opportunities where you would’ve otherwise missed them- like buying the dips

Tokens green? You can see which projects are the strongest & 👁 them

How to Identify a token that will fail

Using dexscreener.com for newly added pairs

This is 1 of my 10 strategies
• Check the address that bought and the address that sold

A dev can manipulate the tokensniffer sites to thinking the token is sellable when it’s not

If this tweet got to you

Let’s get this tweet to as many crypto enthusiasts as possible

https://twitter.com/thedefiprincess/status/1516566420926181384?s=21&t=IK-hg-i3GMm96rDh63vCnA