Right now, I’m more interested in whether the project team is actually working rather than looking at the roadmap images. I start by checking the treasury expenditures: where the money has gone, and whether the pace is steady. If it’s always vague accounts like large-scale “market cooperation/incentives,” and the milestones keep saying “see you next month,” I start to feel a bit uneasy. Recently, new L1/L2 projects have begun offering incentives to boost TVL, and long-time users complain that mining, selling, and dumping aren’t without reason… Money is being spent quickly, but the product and governance can’t keep up, leaving only the data looking good. Conversely, even if milestones are slow, I’d be willing to wait longer if the budget is clearly broken down and each delivery matches the promises. Don’t just focus on TVL—look at whether the money is being spent in places that can “keep people around.”