Recently checked out another blockchain game pool, and it feels like stirring too vigorously in a teacup: the bubbles are lively at the front, but the tea leaves (funds) sink very quickly afterward. Basically, it's because the output is too frequent and inflation is too smooth, everyone is treating "rewards" as cash flow, but the real new money coming into the pool can't keep up, so selling pressure becomes routine. TVL still looks okay, but the flow rate has already become chaotic.

What's even more problematic is that many designs assume players will love to play long-term, but most people are just calculating their break-even point... Once the expected return is interrupted, emotions suddenly dry up, and all that's left is everyone competing to be the first to run.

In the past few days, the community has been arguing whether privacy coins and coin mixing count as original sins. As the compliance boundaries tighten, on-chain migration has sped up—when funds become sensitive, pools with high-frequency entry and exit like blockchain games become even more fragile.

Next time, I might focus first on net inflow and actual token consumption (not just locking tokens to pretend), then decide whether to exit; do you think blockchain games care more about "playing" or "exiting"?