I've been diving for a long time, but I still want to say: whether the project team is working seriously or not, I don't want to hear about how they are painting the "milestones" and making promises anymore. Let's first look at the treasury expenditures. Money spent on development, audits, and infrastructure—these are the kinds of expenses that can be tracked continuously—are more trustworthy than large one-time payments for "market cooperation" or "ecosystem incentives" that then go silent.

Next, compare active addresses and cost distribution: if the milestones are loudly announced but the on-chain user activity hasn't kept up, and old addresses are still losing money but still operating, then it's quite awkward. During this airdrop season, task platforms are fighting against fake accounts and using point systems, making everyone feel like clocking in at work. Frankly, it's just the project using budget to buy behavioral data... I personally just want to see if they can turn this data into real user retention later, or else the excitement will fade after the hype dies down.