🔭 How to Research Web3 Projects to see if they are real ✅ or fake ❌ ❓
📌 Today, I would like to share some research methods 📚 to see if this project is really good or not. Is it really being built? Let's take a look at my steps. I won't say that it is 100% correct or how well it works.
🧬 By using#Muhdohealthas a test subject.
1️⃣. Team / Cofounder / Advisor
2️⃣. Concept of Protocol
3️⃣. Sector of Web3
4️⃣. VC backed
5️⃣. Tech Web3 Auditor
6️⃣. CA: Contract Address
7️⃣. Tokenomic (That's all for now. Wait for Ep.3.)
8️⃣. Roadmap (for now, this is hard to say)
9️⃣. Community & Partnership (That's all for now, wait for Ep.2)
🔟. PR & Social Media Exposure (That's all for now, wait for Ep.2)
***
1️⃣. Team / Cofounder / Advisor 9/10
Team: We can go check out#MuhdoLinkedin. This is considered a pass. If we delve deeper into which jobs each person has been to and where they have worked before, it is even better. This is very transparent. Some projects are not very open. This is considered good.
https://www.linkedin.com/company/muhdo/people/
Like this, our CEO — Nathan Berkley also goes out to speak at various events.
https://www.linkedin.com/posts/nathan-berkley-14a19b2a_arabhealthcongress-arabhealthcongress-arabhealth2025-activity-7275461505985171458-Pv0D?utm_source=share&utm_medium=member_desktop
The new consultant (who joined in Jan 2025) is one of the CTOs of our local CP Group.
I went to search for old posts to see if he is real or not. The real page is We are CP (93,000 followers) which is still active and genuine, which means it is okay.
Get to know CP IP Service Center with Dr. Yue Jun Jiang, CTO of CP Group
https://www.facebook.com/wearecp/posts/pfbid0gjPyiMPDqMYsenLRP9GVKPr19LAcEZL6X8dP4ppn1oGfmmMdtoTBagfQBrePELxnl
A little problem is that Brother John Jiang has not yet stated on Linkedin that he has accepted the status of an advisor. But from the perspective of a senior brother, a person of this level, it would not be appropriate for him to update social media daily.
https://www.linkedin.com/in/jiangyuejun/
We saw that Muhdo posted it himself on a tweet, which he put up on a big face like this. If it's not true, he probably wouldn't have posted it for long. He'll have to see it too. If it's not true, then this is okay.
With all this news, it should be enough.
Muhdo Group Adds Chief Strategy Advisor/ Co-Founder Of Ever Medical Technologies To Advisory Board To Expand Its Footprint Into Asia
https://menafn.com/1109110288/Muhdo-Group-Adds-Chief-Strategy-Advisor-Co-Founder-Of-Ever-Medical-Technologies-To-Advisory-Board-To-Expand-Its-Footprint-Into-Asia
2️⃣. Concept of Product 8/10
First of all, every time you are going to YOLO any project, check on coinmarketcap & coingecko on these 2 websites first to see if it is real or not. Because at least in listing on these 2 websites, it is considered a more complicated process and path to confirm the project's identity. It is considered passable. You can read and study further.
https://coinmarketcap.com/currencies/muhdo-hub/
https://www.coingecko.com/en/coins/muhdo-hub
On the Web3 side, as far as I understand, they seem to be developing AI health assistants & personalization healthcare (health analysis assistants via DNA) using Epigenetic (the study of gene function).
Then pull personalized data to analyze and sell our products back (similar to when we like various Facebook pages and they pull our data to sell our products).
https://www.muhdohub.com/#how-it-works
Which, to be honest, I'm not a science major. I read it and that's it. I don't understand anything. I hope that the people and companies that I work with will understand something.
But in terms of physical products, there are actually products for sale online, shipped directly from England. I've read about it as a source.
Muhdo’s DNA Genetic Collection — a Customizable Health and Wellness Plan
https://th.mcgrocer.com/en-pl/products/muhdo-dna-genetic-collection-kit
Muhdo DNA + Epigenetics Genetic Collection Kit — Discover Your Biological Age
https://mcgrocer.com/en-pl/products/muhdo-dna-epigenetics-genetic-collection-kit
3️⃣. Sector of Web3 8/10
It is on the#DeSciside, which from what I see is already included in the Ecosystem group (6th in order according to the picture).
https://x.com/crypto_banter/status/1882025683511308389
(I copied this but tagged it, so it's acceptable.)
https://x.com/allthewinners1/status/1881808002132394145
Which begs the question: Will DeSci really be the Future of Science?
https://metaschool.so/articles/what-is-desci-decentralized-science
I can't answer that. It depends on how much the leaders in the industry push. (wink: CZ / Vitalik / Brian Armstrong Hello)
https://siamblockchain.com/2024/11/20/what-is-desci-a-deep-dive-into-the-significance-that-brought-cz-and-vitalik-together-in-the-world-of-innovation/
Even Arthur Hayes, owner of BitMEX & Maelstromfund, is pushing DeSci.
https://coinstats.app/news/badc0ef3ee8d7e6a8291ff520c51921f5e4e2b64b9b20bf5ed42cff9baac9390_Arthur-Hayes-Backs-DeSci-Tokens-as-Cryptos-Next-Big-Trend/
Don't forget that science isn't created in a month. Research takes a lot of time.
4️⃣. VC backed 2/10
I can't find this one. Actually, if the project has a fairly established identity, there will be VCs pushing it hard. But this one doesn't. There are 4 cases (mostly) that I can think of:
A. The project team already has some capital and does not want to dilute equity to other VCs.
B. The project wants to push to become a DAO or Community based, including not wanting to push to open with a price of 10 billion due to pressure from VC and let the project's coin price be crushed.
C. If you can't get a pitch or can't find funding, just take whatever you can.
D. (I hope it's not) It's a scam project. Haha. I hope it's not this one.
For the cheat sheet on this question, please go and look.
https://icodrops.com/ &
https://cryptorank.io/
If anyone has any questions about the method, please leave a comment and I'll write more later.
5️⃣. Tech Web3 Auditor 9/10
This is good if there is something to check. It is good to have a 3rd party to check. We should know which companies have audit security that are famous. If they are not famous, it will not work very well.
https://audits.hacken.io/muhdo-hub/sca-muhdo-hub-dna-token-dec2024/
Like Hacken @hackenclub, it's pretty good and only found 3 minor bugs, so dApps aren't too bad.
https://x.com/hackenclub/status/1871544306114220319
6️⃣. CA: Contract Address [no rating] /10
This is the last one. Actually, if you ask me what crypto coins are for (really), I probably won't answer this question because they are for speculation/loss. But in this topic, I will explain how to look for them without making the wrong decision.
Muhdo's coin is called #DNA, but! We have to look carefully to see where it is. First, let's look at CMC (Coin Market Cap), which is fortunately, we searched for Muhdo (if we searched only DNA, we wouldn't only find this one).
https://coinmarketcap.com/currencies/muhdo-hub/#Markets
DNA/WETH (ETH chain) Main trading volume approximately 88%
Some are in the MEXC and SOL chains (12%).
SOL chain has 2 DNAs (Muhdo related and unrelated)
Muhdo DNA/SOL pairs we found today: (Market cap approx. $13M as of writing)
https://coinmarketcap.com/dexscan/solana/gq9whvgdtqwfhtjexziksgeggujmdnb6d1irrmv7a5yg/
https://dexscreener.com/solana/gq9whvgdtqwfhtjexziksgeggujmdnb6d1irrmv7a5yg
DNA/SOL other project pair (should we call it a scam? No, it's not, it's the exact same ticker or abbreviation: (market cap approx. 1.7 million USD as of writing)
https://dexscreener.com/solana/45l3euujkyqhkndfocrd3yazu8nzmpxihtwhjcvidgua
Other methods, if anyone has any questions, please comment and ask. I will write more later.
***
Add 9️⃣. Community & Partnership 5/10
Just a little bit is enough because there is really no basis for analysis. In fact, we need to analyze Social Sentiment, whether it is FB / Twitter / Tik Tok / Search Engine, to see how much it finds, including people who like/dislike/love/criticize things like that.
But in this topic, I just happened to come across a partnership with a famous university in the Top 10 of England, King's College London and
List of top 100 ranking universities in UK
https://www.jeduka.com/articles-updates/uk/list-of-top-100-ranking-universities-in-uk
When we look at it, we can see that there was a Panel Discussion.
https://www.kcl.ac.uk/events/ark-longevity-week-2024-event
Muhdo Health also provided funding for two universities, Stavanger University Hospital and King’s College London, to establish an official partnership.
The research topic of the grant is “the therapeutic potential of compounds derived from mushrooms (such as psychedelics and ergothioneine), cannabinoids, and lipids.”
In other words, the therapeutic potential of compounds derived from mushrooms (such as hallucinogens and ergothioneine), cannabinoids, and lipids.
https://www.muhdohub.xyz/post/muhdo-hub-new-reseach-funded
Overall, it is considered to have a real foundation and is developing research at full speed (in the conditions that he can push).
If anyone has any additional questions, please leave a comment and I will write more.
***
[I won't write this part anymore. If you like this kind of article, please leave a comment / share / retweet to encourage me ^__^]
7️⃣. Tokenomic (That's all for now. Wait for Ep.3.)
8️⃣. Roadmap (for now, this is hard to say)
9️⃣. Community & Partnership (That's all for now, wait for Ep.2)
🔟. PR & Social Media Exposure (That's all for now, wait for Ep.2)
***
👁🗨 Summary: If you ask me briefly, do I dare to hold it? I would say no. But if the#DeScitrend comes back strong again, it will likely have the power to push forward. If you want to try studying the project, you can follow their website.
https://coinmarketcap.com/currencies/muhdo-hub/
For those who have finished reading, here is a beautiful homework assignment: 10 Research Tools of Web3 Projects.
https://www.securities.io/crypto-research-tools/
Reference: The securities recommended, including the images used.
#EarthDeFIRE Analysis 25/01/2025