DefiLlama is the largest TVL aggregator for DeFi (Decentralized Finance). It provides data for many DeFi applications but has also various tools that can be utilized by anyone to help research crypto projects.
In this article, I will highlight some tools on DefiLlama that could be helpful for you in your crypto investment journey.
Find potential gems
You can easily find out what projects are being backed by big investors right inside DefiLlama. This is helpful because it can help you find potential good projects ahead and have them on your watchlist for future investment decisions.
As an example, this project called Supra raised $24 million from some well-known investors including Amonica Brands, COINBASE Ventures, and Hashkey. A link is provided to take you to the project's social account. From there, you could further your research on it.
There are many projects listed from the most recent to the oldest ones. The access this feature on DefiLlama, click on on the left menu, then on Overview. The Overview page will give you the Total funding rounds and the Total funding amount.
Then, you can check the list below to get more details on which projects the funds were allocated. Don't forget to click on to learn more about the project you are interested in.
Track token unlocks
Many projects keep a vesting schedule for unlocking tokens. When tokens are unclocked, they become liquid, meaning that they could be sold on the market.
The surplus of tokens on the market increases the circulating supply, which affects the token price. As an investor, you can take advantage of the price volatility for your investment strategy. If you like a project and have been waiting for a good entry price, knowing the date of the token unlock can help plan in advance to make your decision.
Access the tool from the menu. The Unlocks page shows you a list of tokens to be unlocked with the soonest ones on top of the list.
Find the correlation between tokens
With the correlation, you can easily find a mutual relationship or connection between two or more tokens. Positively correlated variables tend to move together, negatively correlated variables move inversely to each other, and uncorrelated variables move independently of each other. A value of 0 indicates no correlation between two tokens.
You can use this tool to find the correlation between the tokens you are holding in your portfolio. Even if you don't hold Bitcoin, you can also how your tokens are correlated to it. See below in the picture how Fantom is currently more correlated to Bitcoin than BNB.
tool can also be accessed from the same menu where are the other tools we covered.
