I'm just someone doing spot trading swings; whether the project team is actually working or not, I’m too lazy to listen to PPTs now. I just want to see where the treasury funds are flowing. It's not that "spending money = reliability," but at least it should be spent in a way that advances milestones: development, audits, node/ecosystem incentives, and these should align with the roadmap. If every few days there's a bunch of market partnerships, KOLs, event sponsorships, and the milestones are always "next month," I start to get suspicious.

Recently, social mining and fan tokens are hot again, saying attention is mining... I admit I can also get caught up in the FOMO rhythm, but after reviewing, many are just treating the treasury as a tank to buy attention; stop spending money, and the hype stops. Anyway, my simple approach now is: see if they deliver something after each expenditure. If not, I take it as a lesson and stay less emotionally invested.