Recently, I’ve seen that whole “gold-farming pool” setup in blockchain games. Put simply, it’s treating inflation as output. Every day, they consistently blast tokens out, and the players’ “returns” are really funded by the people who come in after them. Once new issuance slows down, the sell pressure is like a faucet that won’t get turned off—no matter how big the pool is, it can’t hold up. Project teams also like to use all kinds of acceleration and multiplier gimmicks to keep you locked in; the end result is that the coin just gets cheaper and cheaper, until they can only keep it alive with even more aggressive incentives… Anyway, whenever I see an economic model like this, I can’t help but frown.

Also, on a side note, modularization and DA (Data Availability) narratives are making developers absolutely ecstatic, while ordinary users are left completely baffled. This is pretty similar to blockchain games: the storytelling is lively, but what actually makes people stick around is still, “Why would I use it, and will I be diluted to death after I use it?” I don’t want to be the party pooper, but if the logic doesn’t make sense, then it just doesn’t make sense.