Lately, I've been watching a blockchain game pool, and it feels like "production is too aggressive," wearing itself out: every day, it’s pumping out tokens wildly, people come in for that small profit, and when selling pressure increases, the token price softens. The pool originally only had that much real gold and silver, which is slowly diluted by inflation, leaving only a bunch of digital numbers for self-amusement. To put it simply, gameplay can't save the economic model.

What I care more about now are the signals that are rather basic: whether new money coming in is willing to stay overnight, whether the production of sell orders is starting to become "taken for granted," and whether the team is doubling down on production. Recently, everyone has been comparing on-chain products to RWA and US bonds for returns, which I can understand—at least their interest isn't printed out of thin air... Anyway, I prefer to hedge what I can now, rather than waiting for the pool to collapse before trying to recover my emotions.