To analyze the key parameters of DeFi protocols, analyze the inflows and outflows of money in the protocols, airdrops, protocol yields, and many other important parameters, several tools created by ecosystem actors are fully at your disposal, I will shed some light 💡
They are not totally free (Freemium), but by the end of this article, you will definitely have an idea of what could help you conduct the best research and interact like a true professional or an experienced user.
Let's start with DefiLlama: Personally, I see it as a drone.
Why? It gives us an overview of the ecosystem.
I have already personally used it to analyze:
The total TVL of all DeFi and specific protocols.
The best DeFi projects by Blockchain.
The vestings.
The yields on certain protocols.
Check if a contract has been audited or not
And I really liked the result. It is very practical and very easy to use even for beginners and moreover, it is completely free. You have no excuse for poorly analyzing DeFi protocols.
Arkham; The Tracker
This tool, as I say, is a tracker. It tracks everything, it sees everything!
If you have pinned a project that you want to track, this tool is the best place to help you with that. It will allow you to easily track:
The inflows and outflows of money in the protocol.
To track whale movements
To track the movements of the team's and devs' wallets
To even track the movements of any address.
Now you see why I call it a tracker?
But sorry, it is not 100% free, you just need to create an account to access most of the features, let's say it is available in Freemium version.
Well, let's move on to Magic Ball 🔮
You have probably guessed it, it's Dune Analytics.
It was for coders at first, people who know how to enter execution commands, those who know how to use SQL and it was paid, but they moved to the Freemium version… Well, let me explain, Dune Analytics allows you to:
Have the real data of a protocol.
You will say that you can get them with other tools, but here it is much more advanced, you can have the data from a specific moment, what you really want you will get.
For example, a protocol is experiencing a sudden influx of capital this morning, you can see all the wallet addresses that interacted with the protocol during the day or at a specific time to understand what actually happened and much more.
The best, as soon as anyone creates an account, they can use everything, their profile and commands are public, so that anyone who enters an analysis command offers something extra to the community. Even a non-coder novice can access it and copy their analysis and strategy.
Now why is it paid?
It is paid to keep its profile private to hide these analyses and to export the data from the analyses carried out as well as to add an API.
It then gives you access to the raw data of the Blockchain, direct access. You just need to ask for what you want, and you will get it. The uniqueness is that.
DeFi can be very simple if you know what to look for, how to search, and how to use the data, by combining these tools, you inevitably become an experienced user who no longer suffers from the market.