New protocol proliferation, 7 tools to help you explore potential projects

Recently, my enthusiasm for chasing new projects has dropped to its lowest point since I joined the crypto space. This feeling seems to be not unique.

I am now more cautious and no longer invest a large proportion of funds in new protocols. Compared to the bull market, the current liquidity of funds is tighter, and the airdrop returns of most projects have significantly shrunk. Funds are dispersed across numerous protocols, leading to a lack of phenomenal breakout projects.

A more intuitive feeling is that many new projects only stay at the level of incremental optimization and lack breakthrough innovations. This situation exists not only in the DeFi field but is also common in L1 public chains and L2 scaling solutions.

In the age of information overload, it is increasingly difficult to filter out projects worth investing time in. This poses a challenge for new projects, but it also creates opportunities for astute crypto natives.

The key question is: how to determine which protocols are worth investing effort in? Where should we look for them? This article will share a series of tools, methods, and information channels to help you identify protocols with growth potential. Evaluation dimensions include:

• Mental Share
• On-chain actual utilization rate
• Coverage of smart account application scenarios

Risk Warning: The content of this article is for informational sharing and knowledge popularization purposes only and does not constitute any investment advice. Please be sure to conduct your own due diligence and make decisions cautiously in conjunction with your personal financial situation.

1. Kaito

Kaito provides a free data dashboard that lists top non-token projects by "mind share". You can visit yaps.kaito.ai to explore potential projects of interest.

The Kaito tool is powerful, but there are industry concerns that it may distort the market. If there are doubts about this, you can try the next tool that uses a differentiated algorithm to expand the screening dimensions of Alpha strategies.

2. Dexu AI

Dexu AI provides multidimensional information such as cognitive shares, market sentiment, and narrative dissemination power. How to use:

Method 1:

• Log in to Dexu AI → Enter "Sector analysis" → Select "Social"
• Switch between different analysis dimensions
• Custom time period, adjust data granularity

Method Two:

• Click on "Projects" → Enter the "Top Project" page
• Scroll down to "Projects Leaderboard - top 5000"
• Lower the "Seniority" filter value to discover emerging projects, increase the "Network" proportion to filter out low-active projects.

3. 0xPPL

0xPPL is an innovative social platform, with the core highlight being the display of the wallet dynamics of the accounts you follow on X. Its wallet linking system can accurately match KOL accounts with on-chain addresses.

Simply log in with your X account and link a wallet with trading history to synchronously track the on-chain activities of your followed objects in real time. If you follow a large number of airdrop hunters, you will be able to directly hit their real layout protocols.

4. Nansen

Nansen provides two main features:

1. Points Incentive System: Accumulate points through subscribing to paid plans, participating in staking mining, inviting friends to register, and other methods.

2. Popular Contract Fund Flow Tracking:

• Exclude DEX and liquidity pools
• Set the minimum TVL to 5 million USD
• The creation time of the contract is within 30 days.

5. DeBank

DeBank's address tracking feature can uncover excess profit opportunities. Steps to operate:

• Visit the DeBank official website
• Click "More" → Enter "Web3 Social Ranking"
• Filter target accounts to view the current airdrop projects they are participating in.

6. DeFiLlama

DeFiLlama provides two practical strategies:

Strategy 1: Precisely filter airdrop potential projects

• Visit the DeFiLlama official website → Click on the "Airdrops" section
• Check "Hide Forked protocols"
• Add TVL value filter condition

Strategy 2: Capture the dividends of popular public chains

• Lock the current popular public chain
• Sort all protocols on this chain by TVL

7. Coincarp - Tracking Financing Dynamics

Coincarp is a high-quality tool for tracking project financing dynamics. Screening strategy:

• Select the "DeFi" section
• Financing stage locks "seed round", focusing on the earliest projects

Supplement: Recommended Crypto Bloggers

Here are a few cryptocurrency blogger accounts worth subscribing to:

• Alpha Please
• The DeFi Investor
• blockmates
• The Daily Degen
• The DeFi Edge

These information sources can help you discover emerging popular protocols, obtain project dynamics and market insights.