Usually, when we learn about a project and want to understand it, the existing information is usually limited to the token name or a simple project or team name.
- If we only know the token name, let's take "pyr" as an example (don't buy it, just an example).
Since the token has been mentioned, it's simple. We can directly search for the token on an exchange or use this website for more detailed information: https://www.coingecko.com/zh
As you can see, Twitter, official website, Discord, Telegram, DEX, contract code, type, and candlestick chart are all available. Most of the necessary information is there.
If it's an exchange, you can see the current token price, recent candlestick chart, market ranking, market cap, circulating supply, total supply, issuance date, and issuance price.
By selecting the weekly candlestick chart, you can see the historical price changes of the token. This can reflect what has happened to the token in the past, whether it has been continuously declining or if there has been capital speculation.
If there has been speculation, you can determine the resistance level and identify where there is a large amount of selling pressure. Generally, we say "speculate on new tokens, not old ones" because old tokens have a lot of selling pressure, and many people have been trapped in them before. When the market maker tries to push up the price again, they will encounter significant resistance. The cost of pushing up the price is higher, making it more difficult for capital to speculate again, even if the price increase is not significant.
Market cap, circulating supply, and total supply can be used to judge the future development of the token. If the token has good fundamentals, many positive developments, and belongs to a hot market sector, but its market cap is not high, then its price increase potential will be good. However, if its market cap is already very high, reaching several billion or tens of billions, it will be difficult for it to have significant price increases.
Because we know that the top projects in terms of market cap are only worth a few hundred billion, how can this token perform better than those top projects? It is very challenging. In this case, if you choose to invest, you need to consider the overall situation.
Let's continue scrolling down. Here, we have links to the official website and whitepaper.
A whitepaper is an official document issued by a government or private institution that provides a detailed introduction to a specific issue or policy. It is usually published by governments or companies and aims to provide information to the public or specific audiences and propose relevant policies or solutions. It is typically a more formal document that includes information about the history, current situation, impact, and proposed solutions related to the issue.
In general, the best way to understand a project is to visit its official website and read its whitepaper. This will usually cover most of the information. However, the introduction on the exchange may not be as detailed.
- Here, we open the official website.
By browsing the official website, we can learn most of the information about the project.
On the right side of the official website, there are several icons. The first one is Discord. Foreign projects usually use Discord for activities or to communicate with users. It is like a user community.
The second one, as we know, used to be called Twitter but is now represented by an "X." Twitter is an important social media platform overseas, and many official announcements are first released on Twitter, unlike in China where we use Weibo. So, if we want to track a project, the official Twitter account is an important source of information.
The third one is Telegram. It is also a communication channel for official announcements, but it is not as formal as Discord. Currently, there are many scammers on Telegram, so its importance is relatively low.
The last one is Medium. Some articles related to the project will usually be published here.
- Let's open the whitepaper.
Some projects may have the whitepaper on their official website, while others may not explicitly label it as a whitepaper and only provide a document. Here, the document serves the same purpose as a whitepaper and provides detailed information about the project. When collecting information, we usually copy and paste the whitepaper or document into a separate document for easier reference.
In the case where we only know the project name, let's take this project as an example.
If it seems like there is a lot of text and it's hard to understand, don't worry. It won't hinder you from finding related information. Let's look at the first sentence: "Buterin expressed his views during the Reflexer Finance disharmony discussion." What are the key words here? "Reflexer Finance." Let's copy it and search on Google (big institutions or projects can usually be found on Google).
Great, it seems like this is an established project with detailed information available. The first link should be the official website. Let's check if it is.
It looks like the official website. Now, let's continue with the previous process: browse the official website and look for the whitepaper or document. It should be here.
In this case, we have both the whitepaper and official document. We can download the whitepaper and copy the official document into a Word document.
Now, we have completed the download.
In summary, the steps to search for project information are as follows:
- Use a search engine (Google) to search for the project name or token on an exchange.
- Browse the official website and look for the whitepaper or document.
- Download the whitepaper and organize the information from the official website (if there is no document or whitepaper, copy and paste the information from the official website).
With these basic steps, you can easily search for simple information. For further processing and writing a project analysis report, additional steps are required.