Honestly, when I look at whether the project team is really doing serious work, the first thing I don’t check isn’t how exciting their narrative sounds—I check their treasury spending: where the money is going. Is it going to development, auditing, and infrastructure—those “boring but absolutely critical” areas—or is it just a bunch of market collaborations, KOLs, and activities meant to be seen? As for milestones, don’t just write “Launch in Q3.” It’s best if they match actual on-chain activity and code updates; otherwise, it’s like using weekly reports to fool people… I’m not sure if I’m just being too cautious, but after more experience, I feel that the spending pace needs to be aligned with delivery—you can’t keep deceiving people for too long. Recently, social mining and fan token schemes—the whole “attention is mining” thing—are getting hot again. Anyway, I’ll treat it as noise for now. Unless I can see that the treasury is truly paying for the product, I’ll wait a bit longer to pay attention. Keep the assets in a cold wallet first—so for now, that’s it.