Just now, I was squatting in the blockchain game group and saw a bunch of people showing off "how much they produce per day." I hesitated and almost clicked into the pool again... Honestly, the biggest fear for blockchain games is when the output exceeds the consumption. Tokens are released like tap water, players just want to withdraw, not spend, so the pool becomes like a funnel, getting emptier the more you fill it. A few days ago, someone also interpreted large on-chain transfers and hot/cold wallets of exchanges as "smart money entering the market." I felt uneasy listening: smart money might also be here to take the output, casually using you as an exit for liquidity. Anyway, now whenever I see high APY, I first ask: who is going to pay for this output? If no one is paying, don’t pretend you’re mining—you're just lining up to collect paper.