I’m now more focused on whether the project team is actually “getting things done,” rather than how big a dream they paint in their PPTs. First, look at treasury expenditures: is the money spent on things that can be tied back to the milestones? For example, if they say they want to roll out a certain feature, but all the spending is for marketing, KOLs, event costs… that’s not necessarily wrong, but the cadence feels off—like they crank up the hype first and only later slowly think about the code.

If, back then, some projects had allocated less of their budget to social mining and instead prioritized solidifying the basics—things like contract permissions and the signature process—then later on you wouldn’t have a bunch of people getting drained just from “clicking authorize,” and then coming to ask me how to get their nonce to work. Attention, as in attention mining, sounds lively; but honestly, attention comes quickly and leaves just as fast. When the spending on the ledger doesn’t match the deliverables on-chain, you can basically smell it… Anyway, I’d rather wait until they check off the milestones on time before we talk.