Recently, the pools for blockchain games are starting to look like rush hour: the (production) is increasing more and more, the road (actual demand) hasn't changed, and in the end, everything gets completely blocked, and everyone honks their horns together. The inflation story is basically just printing more "oil tickets" to keep you running; a few days ago, it seemed pretty good, but later, as the oil tickets pile up, they become less and less valuable, and the funds that could take over in the pool are instead worn out. What’s left are front-running bots cutting in line at intersections, while ordinary people are still thinking, "Maybe reinvesting once more will break even"... It’s quite brutal. In the group chat, these days, people are talking about stablecoin regulation, reserve audits, and various short essays about "de-pegging," with emotions similar to those in blockchain games: panic causes runs, and the runs cause more panic. Anyway, whenever I see "high yield," I first ask: who is actually consuming? If there's no answer, just treat it as traffic congestion and go around, and avoid joining the hype.

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