Today I came across another bunch of PFPs saying they want to build a "membership system + brand collaborations." I actually don't oppose it, but the problem is that often what you're buying isn't long-term value, but short-term attention... Once the hype passes, the group is left with only check-ins and lotteries, and the on-chain fund flow gradually dries up.

A while ago, I was a bit scared: I almost followed the trend of a "membership ticket," but luckily I checked the permissions and treasury access first, and found that the core contract can change rules at any time. Once the money is in, you can basically only pray that the team has a conscience. To put it plainly, don’t treat your wallet like a wishing well.

Recently, everyone is daily watching the unlock calendar and staking unlocks, and the anxiety about selling pressure is understandable, but what I’m more afraid of is: no matter how good the brand story is, once the unlock happens, attention and liquidity will both run away. Anyway, I’d rather miss out now than rely on luck to win. That’s all for now.