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Use This DefiLlama Hack To Find The Next DeFi Gems
A 3-step guide in finding the next 50x crypto gem using DefiLlama and other free tools.
Missed some of the recent +100–200% price pumps?
That’s fine.
In crypto, trends usually follow a common pattern. DeFi natives know this and use it to profit throughout whole hype cycles. Even if they miss the perfect entry point, they use the following method to ride the wave.
Mastering this strategy is beneficial to all Web3 investors.
Get ready for some alpha as we enter:
Web3 Clones
Narratives drive crypto.
Whenever a novel project explodes, the market gets flooded with copycats. Soon enough, a completely new crypto sector is formed, and everyone starts talking about it, driving all hype-related products upward.
Uniswap is the protocol with the most forks (378 as of Feb 9, 2023), with its most successful clones — PancakeSwap and SushiSwap having 15 forked projects made from them in total.
That’s the magic of Web3.
Protocols are open-source, and innovation is encouraged rather than copyrighted. It is great for entrepreneurs who find opportunities to build upon existing projects and investors in “predicting” what the next moonshots might be.
The question is — how can you find these projects?
What Are DeFi Forked Protocols, You Ask?
Web3 clones are usually created through a DeFi fork.
An example of successful DeFi forked protocols include:
- PancakeSwap and SushiSwap (forked from Uniswap)
- BSC’s top lending protocol, Venus (forked from Compound)
- Optimism’s top DEX, Velodrome (forked from Fantom’s Solidly)
Currently, the TVL of forks is $8.14B or 16.61% of the whole DeFi market, with some forked protocols even surpassing their origin protocols…
