I'm now checking whether the project is actually working on something; first, I look at the treasury expenditures and milestones. If they don't match, I just cut it off... Honestly, what's more important than how the money is spent and when the delivery is made is the story itself. I'm most afraid of those who shout "big version next month" and then delay for half a year, while the treasury keeps paying itself salaries, holding meetings, and reimbursing expenses. The on-chain records are quite complete, but the more I look, the more awkward it gets.

Recently, I've been comparing RWA and US Treasury yields with on-chain yield products. I don't want to argue about which is better for now; I just want to see if they've spent the money on risk control, audits, and custody, instead of drawing "steady returns" while leaving milestones blank.

If I had paid more attention to the treasury flow at that time, I wouldn't have spent two months stuck on a project that's "about to launch." Gas fees didn't cost much, but the time was really wasted... Forget it, with a poor memory, I can only review the accounts more often.