What is DYOR?
Do your own research is a phrase that gets thrown around a lot in the crypto world. And while it’s a crucial step before making any investment or using any new product, it’s also confusing for a beginner as it is completely lacking in any specific details or instructions. Many people have been told DYOR but are likely unsure of what exactly doing your own research entails. Have you done sufficient research if you review the project website, read the whitepaper, or spent some time on their Telegram? The answer is extremely subjective and will vary from person to person. Wouldn’t it be nice if there was a resource that could guide someone through the research process from start to finish? Look no further.
Get started! Visit: dyortool.io
What’s Our Solution?
We have developed an online tool that walks you through 27 different evaluation points and assists with the following:
- It provides an explanation of why each point matters so that you can understand what you are researching.
- It gives you clearly written steps to follow to perform the evaluation.
- It calculates a score based on the information you entered so that you have a standardized basis for comparison across different projects.
- Lastly, it generates a report that you can share on social media so that others can benefit from the research you have performed.
Who Can Use it?
It is designed with the total beginner in mind to properly evaluate a project PRIOR to investing in or using it. So no prior experience or knowledge is required. And while it is designed for a total beginner to use, it is also a useful resource for crypto veterans as well. Even if they do not need to learn how or why to do to research, it provides a platform that assists with documentation and generates reports that will greatly benefit the community.
Learn to be a Better Investor
With Smart Contract Audit Token, our mission is to make Cardano as safe and transparent as possible for investors and users. This involves performing community-driven, decentralized smart contract audits, but it also involves a lot more. We want to give you the tools and knowledge to properly evaluate a project before investing in it. Simply having a smart contract audit does not mean it will be a good investment. There are several other factors that need to be taken into consideration while researching a potential investment before you should be comfortable committing your hard-earned money.
Designed to be Updated
People will have varying thoughts on what should be covered in this review and how much each item should be weighted. That is a feature, not a bug. We want to get everyone’s input and then have it reflect the consensus of the community. Because that is what it is made for, our community. This will allow us all to use the same standards in evaluating a project and ensure when comparing two projects that it is a true “apples to apples” comparison. Therefore, we have designed this tool to be a good starting point and allow a comprehensive review, but we do not want it to be a final version. Anyone who has suggestions of things to add, things to remove, changes to the worksteps, etc. can submit a form with their suggestions and have the changes incorporated into the tool. This ensures that the research we are performing and sharing truly reflects our combined values, standards, and beliefs.
Fore more information, visit: dyortool.io