These days I tried out a small blockchain game’s “mining pool” again, basically just issuing tokens to exchange for liquidity. A few days ago, the returns looked pretty good, but then I checked the emission schedule, and the inflation was like opening the floodgates. The new players didn’t keep up, and the small amount of real money in the pool was being diluted rapidly… Once everyone realized the profits were shrinking, they started withdrawing, and the more people withdrew, the more outrageous the slippage became. In the end, only those remaining could take over each other’s positions, just like grinding monsters in an RPG until your backpack is full of junk.

Now I only have one thought about this kind of pool: the output must be based on the source. The “profits” supported by printing money will eventually have to be paid back. Especially recently, I heard that some places are increasing taxes, tightening regulations, and the expectations for deposits and withdrawals are changing. People become more timid, and funds are more likely to pull back, making it even harder for blockchain games that rely heavily on new users to sustain. Anyway, I’ll just treat it as a side quest and casually explore… don’t get too hooked, and if I lose a lot, at least it’s a tuition fee.