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Protocol (DAPP) Evaluation Checklist

by James Lee

When researching a dApp’s founding team, consider their experience, evaluate their business plan, and use personal networks. The founding team formation can be divided into four steps.

Here’s a checklist of items to review when evaluating why a protocol exists:

  1. Existence of the protocol: Verify whether a protocol exists for the study or research project. If it does exist, determine where it can be accessed and if it is available, obtain the registration information, including the registration number. [7]
  2. Purpose of the protocol: Understand the background, rationale, and objectives of the protocol. The protocol should describe the planned methods, design, and organization of the study or research project. [2]
  3. Hypothesis and planned methods: The protocol should describe the hypothesis and planned methods of the study or research project. This information can provide valuable insight into the purpose and goals of the project. [4]
  4. Relevance to the study: Check that the items listed in the protocol are relevant to the study or research project. It is unlikely that any protocol will include every item on the checklist, and investigators should select the items that apply

Here’s a checklist for conducting a SWOT analysis for a dApp:

  1. Determine the objective of the analysis: It’s important to have a clear goal in mind for why you’re conducting the SWOT analysis. This is usually the task of the business leadership. [8]
  2. Designate a leader or group facilitator: Choose someone who has good listening and group process skills and can keep the analysis moving and on track. [5]
  3. Designate a recorder: If your group is large, choose someone to back up the leader.
  4. Use a tool to record the analysis and discussion points: You can use newsprint on a flip chart or a large board to record the analysis and discussion points. [5]
  5. Identify strengths: What does the dApp excel at? What are its unique selling points? [2]
  6. Identify weaknesses: What are the dApp’s shortcomings? What areas need improvement? [2]
  7. Identify opportunities: What opportunities does dApp have for growth and development? [2]
  8. Identify threats: What challenges does the dApp face and what could harm its success? [2]
  9. Determine a strategy for improvement or optimization based on the SWOT analysis results. [7]

This checklist should help you conduct a comprehensive SWOT analysis for your dApp.

Founding Team Research
  • When researching the founding team of a dApp, look at the experience and skills of the individuals involved
  • A study from INSEAD explored the factors that make a startup team successful [2]
  • Forbes recommends looking for a team with a visionary, a hustler, and a hacker, known as the “golden triangle” [1]
  • The formation of the founding team can be divided into four steps: activation, evaluation, approach, and reciprocation [3]
  • Evaluate the business plan and goals of the dApp
  • Founding team should have a clear understanding of the product to be developed, market need for it, milestones, and capital requirements [6]
  • Utilize personal networks to research the founding team
  • Find referrals through personal contacts and learn more about the team and their goals [7]

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