Recently, I've seen the secondary market treat the royalty switch as a chip to be manipulated back and forth, essentially everyone is looking for "who should pay the creators." I used to take sides, but now I prefer to lower my expectations first: royalties are not an inherent cash flow, but more like an experiment in community consensus, and a change in sentiment can cause leaks. Lower expectations make things easier, at least preventing "long-term creation" from being pinned on a toggle on someone else's interface.

The macro side also feels similar: expectations of interest rate cuts sometimes push risk assets higher, and other times they move in tandem with the dollar index, with logical reasons for both, but when it comes to positions, it’s very mysterious. Anyway, I now care more about whether on-chain can make "attribution, permissions, revenue sharing" more solid, even if it’s slower, it’s more reassuring than arguing over profit splits every day.