DYOR (Do Your Own Research): How to Read a Project Like a Pro

You often hear "DYOR" in crypto, but what does it actually mean? It doesn't mean watching YouTube influencers. It means verifying the facts. Here is a simple checklist to evaluate a DeFi project before you deposit funds.

1. The Audit Check
Has the code been audited by a reputable firm (like CertiK, Trail of Bits, or OpenZeppelin)?

• Warning: An audit does not guarantee safety (audited projects get hacked too), but a lack of an audit on a major project is a disqualification.

• Read the summary: Don't just look for the "Audited" badge. Read the report's summary. Were "Critical" issues found? Were they fixed?

2. Team Anonymity vs. Reputation
Is the team public (doxxed) or anonymous?

• Context: Anonymous teams built great things (like Bitcoin), but in DeFi, anonymity makes it easier for developers to scam users and disappear. If the team is anonymous, the risk is significantly higher.

3. TVL (Total Value Locked)
How much money have other people trusted to this protocol?

• Metric: A high TVL (hundreds of millions) generally implies that the code has been battle-tested over time. A brand new project with $50k TVL is extremely risky.

Summary:
Research takes time, but losing money takes seconds. Make it a rule: No research, no investment.