Recently, new L1/L2 projects are again issuing incentives and pulling TVL, and veteran users in the group are complaining "mining and selling," which I can empathize with: when attention shifts, everyone rushes to do tasks, and once the hype passes, all that's left are screenshots and transaction fees.

Thinking about it later, it's quite funny; actually, I’ve been like that too, led by narratives like a puppet.

Now I set a simple rule for myself: first, break down "where does the profit come from" to the innermost layer—whether it's subsidies burning or if someone is really using it;
if it can only rely on new money to continue, then I’ll just pass by, at most experience with a small position to pay tuition.
Anyway, hot spots rotate too quickly, I’d rather miss out than be a liquidity provider in the noise every time.