See whether the project team is actually doing serious work—I can’t be bothered to listen to the roadmap anymore. Just watch how they spend the treasury: is the money thrown into development/security audits/operational tools—the kind of “not flashy but keeps you alive” stuff? Or is it that as soon as a milestone hits, they start celebrating feasts, push joint campaigns, and have KOLs lining up to publish articles… Put simply, the former is slow but solid, while the latter is lively but feels like they’re hosting their own funeral.

And for milestones, don’t just look at “xx was released.” Check whether the delivery can actually be reproduced: how frequently the code gets updated, whether the documentation is being maintained by someone, whether bugs are being owned and accounted for, and whether governance proposals are only changing logo colors. Treasury spending transparency is fine, but what matters more is whether the explanation is in plain human language—not just “ecosystem incentives” used to smear your face.

Lately, memes and celebrity trade calls are back in the spotlight again. Newcomers, don’t get too moved—attention is the thing that runs faster than your stop-loss. Don’t be the poet who’s last up to the plate—I’ve been there; even rhyming can’t save you. You say, “Spending more from the treasury means we’re strong?”… Let’s leave it there. Don’t rush to take the blade.