Recently, I came across a bunch of PFP/member card calls for "consensus" and "culture," basically trying to lock in attention first. But I prefer to look at the cooler stuff first: whether TVL has increased, whether net inflow is sustained, whether on-chain activity is genuine use or just mutual brushing, not just how tidy the avatar changes are.

I think slow and steady is more reliable for brands; short-term hype doesn't equal long-term value. Especially now, Layer2s are daily comparing TPS, fees, and subsidies, arguing like sports competitions... but when you look at the data, some of it is just fake prosperity built on subsidies. Anyway, I’d rather get in later than be kidnapped by a "membership feeling," so I’ll observe for a while first.