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In a down market, that’s where researching new projects can truly pay off.
We did a small experiment to crowdsource our members& #39; collective intelligence.
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🧠" title="Hersenen" aria-label="Emoji: Hersenen">
Here are red flags to keep in mind when evaluating crypto projectshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rug van hand met omlaag wijzende wijsvinger" aria-label="Emoji: Rug van hand met omlaag wijzende wijsvinger">
1/15https://abs.twimg.com/emoji/v2/... draggable="false" alt="🧵" title="collectie" aria-label="Emoji: collectie">
We did a small experiment to crowdsource our members& #39; collective intelligence.
Here are red flags to keep in mind when evaluating crypto projects
1/15
"No roadmap, just vibes."
Sounds cool at first, but a team with no clear roadmap–even if it changes along the way–is overemphasizing hype over being held accountable for its objectives.
2/15
Sounds cool at first, but a team with no clear roadmap–even if it changes along the way–is overemphasizing hype over being held accountable for its objectives.
2/15
No detailed customer segmentation:
Many try to cater to too many segments and end up not serving any of them well.
If you don’t know who you’re targeting, you don’t know what to prioritize.
3/15
Many try to cater to too many segments and end up not serving any of them well.
If you don’t know who you’re targeting, you don’t know what to prioritize.
3/15
Outsourced dev team and consultants.
If you can’t recruit a team who is passionate about your mission, it speaks to your ability to persuade and sell others on your dream.
Hiring mercenaries can end up setting you back.
4/15
If you can’t recruit a team who is passionate about your mission, it speaks to your ability to persuade and sell others on your dream.
Hiring mercenaries can end up setting you back.
4/15
The project focuses on adding an extra feature while copying other projects, instead of building an innovative product.
Ask yourself this, if your main competitor with a strong user base added the extra feature, would it put you out of business?
5/15
Ask yourself this, if your main competitor with a strong user base added the extra feature, would it put you out of business?
5/15
Over emphasizes technical differentiators vs UX/marketing.
Often symptomatic of technical founders who are unable to zoom out and too focused on the machinery under the engine.
Focus on the problem you are solving for your users.
6/15
Often symptomatic of technical founders who are unable to zoom out and too focused on the machinery under the engine.
Focus on the problem you are solving for your users.
6/15
Poor tokenomics design
This includes under 2-year vesting for the team, big unlocks in the first 6 months, launching a token before building a V1 product, flavor of the week token mechanics, or launching a token in the first place which might be unnecessary.
7/15
–
This includes under 2-year vesting for the team, big unlocks in the first 6 months, launching a token before building a V1 product, flavor of the week token mechanics, or launching a token in the first place which might be unnecessary.
7/15
–
The team takes feedback as hostile or FUD.
Your users can give you valuable insights to enhance your product.
Ignore them or treat them with hostility and they might look elsewhere.
8/15
Your users can give you valuable insights to enhance your product.
Ignore them or treat them with hostility and they might look elsewhere.
8/15
No regular updates on progress
Fluff updates with “big things cominghttps://abs.twimg.com/emoji/v2/... draggable="false" alt="👀" title="Ogen" aria-label="Emoji: Ogen">” don’t count.
If you can’t provide updates regularly, people assume your project is dead.
9/15
Fluff updates with “big things coming
If you can’t provide updates regularly, people assume your project is dead.
9/15
Founders that launch multiple tokens over a short period of time.
You’ll see them already angel investing before even shipping their product or have proven PMF.
A sign they are in it for the short-term pump and dump.
10/15
You’ll see them already angel investing before even shipping their product or have proven PMF.
A sign they are in it for the short-term pump and dump.
10/15
False starts and relaunches every few months.
First impressions count. Don’t rush to launch and make sure you can deliver. Details matter.
When a team screws up at the initial stages, people no longer trust them.
11/15
First impressions count. Don’t rush to launch and make sure you can deliver. Details matter.
When a team screws up at the initial stages, people no longer trust them.
11/15
Website copy and/or whitepaper looks like mashed-up copy-paste mumbo jumbo.
If people don’t get your product in one sentence, it shows you are lost in what you are trying to build.
Typos + sentences that don’t make sense are a -
12/15
If people don’t get your product in one sentence, it shows you are lost in what you are trying to build.
Typos + sentences that don’t make sense are a -
12/15
Trying to deploy on multiple chains instead of building the product itself.
Looks like a quick win, but you’re wasting your limited resources to get short-term brownie points.
13/15
Looks like a quick win, but you’re wasting your limited resources to get short-term brownie points.
13/15
The community is toxic and purely focused on price.
Things might look great from the outside, but a short skim on their TG + discord, and it becomes obvious - trolls where people are ridiculed for asking insightful questions.
14/15
Things might look great from the outside, but a short skim on their TG + discord, and it becomes obvious - trolls where people are ridiculed for asking insightful questions.
14/15
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15/15">https://uniwhales.io/">...
Credit goes to the UniWhales DAO community.
Make sure to follow us for more insights.
Join our DAO community to learn from experienced traders and investors.
https://uniwhales.io/
15/15">https://uniwhales.io/">...
That& #39;s a wrap!
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If you enjoyed this thread:
1. Follow @uniwhalesio for more of these
2. RT the Tweet below to share this thread with your audience https://twitter.com/uniwhalesio/status/1523738235012370435">https://twitter.com/uniwhales...
Update, we also did a https://abs.twimg.com/emoji/v2/... draggable="false" alt="🧵" title="collectie" aria-label="Emoji: collectie">on red flags for VCs / Investors: https://twitter.com/uniwhalesio/status/1529599507259871232">https://twitter.com/uniwhales...
