Is the project recently working seriously? I'm actually more focused on how the treasury is being spent: spending money slowly isn't necessarily a good thing, but spending quickly and in a way that's hard to understand is even more alarming. Don't just look at the milestone as "a new version has been released"; I'm more concerned about whether it matches the expenses, such as hiring, auditing, or integration, and whether traces can be found on-chain or in announcements, making sure the statements don't contradict each other. The community has also been arguing these days whether the extreme fund rate is a reversal or just an ongoing bubble squeeze. To be honest, I don't guess the direction; I only care whether the project team will take advantage of the situation to do some tricks, using the treasury as fuel to boost hype... I see complexity as an enemy. If I can explain clearly in three sentences where the money went, what was achieved, and what risks are ahead, then I’m willing to keep watching.