I’m now watching to see whether the project team is “really doing things.” Compared with just putting together slides, I’d rather focus on how the treasury is spent: is the money released step by step according to milestones, or does it get transferred in one burst to an exchange / hop to a bunch of new addresses and then disappear with no follow-up; are the R&D expenses backed by corresponding on-chain actions (contract updates, permission narrowing/converging, the timing/rhythm from testnet to mainnet), instead of only saying, “a major version next week.” Recently, the group has been talking nonstop about stablecoin regulation, reserve audits, and all kinds of “de-pegging” rumors. Honestly, the more they argue, the more I want transparency—whoever is willing to lay everything out in the open and write permissions clearly is more likely to look like they’re actually doing the work. For safety, I’m willing to take one extra step: wait an additional week before entering, to confirm whether treasury payments and the milestones really line up. It’s a bit troublesome, but you can sleep more soundly.