recently, CryptoDiffer website made a synthesis of some Undervalued DeFi projects. This is a good start for making your own research and see if some of them could be really a good opportunity for investing.
I don't want to make a detailed analysis, but what am I looking for is a way to assure that the conditions for making a performance are met:
- the quality of the project - what do they aim and how they wanna do it
- the main competitors
- the team - is this solid? how is the team members background?
- the exchange where is now listed and the next possible opportunities (if are only shady exchanges, you better step away)
- the market cap - PAY ATTENTION! - it is not important the actual market cap, but look for the:
- max supply
- current supply
- the way and timing of releasing the rest of the tokens (if it is the case) - if there are only 300 k tokens now from a total of 100 million, you should be sure there is very important how the rest of the tokens will affect the price when they will be released
- how much the team owns from the total and how long the tokens are locked
Telling you that, I can give you an example:
ORO - Oropocket
At a first sight: 1,6 mil MarketCap - a total Gem!!!
Let's see the details. First - tokenomics:
The only 2,5 million launched from a total of 100 million is not making me too happy. It is the danger of a ORO flood in the market and that's why we need to see more detailed data: release mode of tokens, etc
The actual price seems to be near support, so it could be a short term investment to sell it at 0.6 $ - that means a 50% gain.
I like that ORO is launched on Ethereum, using Matic Network for cheaper fees and also on Tezos blockchain and I found this by reading here, on Publish0x, an article: Why OroPocket is also deploying on Tezos blockchain or this: Oropocket is launching Open Finance protocol(OpFi) on Matic Network to give exposure to Real-world assets through DeFi - a crystal clear article by @Da_titan. I am sure I will find more articles about it if I look for it. Tezos is well known for it's higher security protocol that can avoid hacking like the ones happened on Ethereum blockchain, for example.
By essence, OroPocket role is compelled here:
Looking further for what ORO Token is good for:
OroPocket tokens shall help users become a part of the Open Finance ecosystem & protocol
The tokens shall be used for transparent governance, building reserves, and rewarding behavior that benefits the network.
Token ValueOroPocket tokens shall derive its price from the liquidity and activity on the network.
To create a breathable economy the fee pool would be used to buy back the tokens from open market(or uniswap) & burn that supply.
Users would be able to stake their OroPocket tokens to earn inflationary rewards generated by the network.
It is not an utility token (like the ones used for paying fees in the ecosystem), but for governance and will be bought back from the open market for burning.
In two words: you get your ORO by staking assets (I didn't figure it how until now) and hope the fees would be so big that is needed to buy back ORO tokens from the market for burning.
Let's see the extended tokenomics:
Wow!
We don't have only 100 million tokens!
We will have 256 million until 2025 and after that another 2.5% annual inflation (this is not big). Now, that is a fact that is making me wonder how much should I invest in projects like this. Seeing this tokenomics, the actual price and circulating supply, the stage of the project - nothing. Well, if you have a more thant 10 000 $ crypto portfolio, maybe 1%.
Why? Too early for having a depth view of this project.
Let's go one step forward.
Usecases:
Well, this is not the first and it not be the last project aiming this kind of services. The theory is much simpler than the real life. We will see what will be and I think this would be happening in the next year.
The Team
The Oro Pocket linkedin page is looking like this:
It really doesn't inspire confidence. At all.
Conclusions:
First - the huge unreleased amount (256 million) comparing with circulating supply (2.5 million) is making me prudent regarding this project.
Second - I needed search more until I got the main website: www.oropocket.com because it wasn't presented on Coingecko directly and I finally understood how can you have backed assets on OpenDeFi - by acquiring it with a card :))). So, where are the unbankers? For getting gold assets, you need to have a card to pay for it.
Third - the team is not presented as a powerful one.
Fourth - being listed on BITMAX and Bolaxy could mean the project is starting to grow, but it has many steps until becoming solid
For me, a short term investment for now - buy at 0.4 $ and sell to 0.6 $ and I'm out until new details of this project.
Now, this is a way of making a short research for a project. Of course, if you have more time, you could analyse the community, the past (if there is any) and the next milestones. Take care, always!
Disclaimer: this is not an financial advice, just my opinion about a fact.
