Last night, the group was again sharing screenshots of "Some stablecoin is depegging," along with the usual reserve audits and regulatory rumors.

Everyone was shouting "Run away quickly" while secretly asking where to swap to save on transaction fees... I just watched the message flood and casually opened a few PFP communities, only to find that today "faith" has all shifted to "membership benefits—whether to get a discount on renewal."

To put it simply, PFP/membership/brand stuff, long-term value isn't nonexistent, but the premise is that you're willing to keep paying attention tax: activities, narratives, collaborations, bringing in people.
When the market tightens or regulators scare, people first ask "Can I sell it? Who will buy?"
I'm just a liquidity intern who doesn't chase hype, so I focus on who starts talking about "long-term co-creation," which usually just means trying to extend short-term attention.
Let's leave it at that for now.