I'm now looking at whether the project team is working seriously, rather than just watching how big their pie-in-the-sky promises are. I focus on two things: how the treasury funds are spent and whether milestones are submitted on time. Honestly, teams that are genuinely working tend to be somewhat "guilty" about their spending transparency: development, auditing, and operational expenses can at least be clearly explained. It’s not like every few days they come out with a big "ecosystem subsidy" and then nothing actually materializes.

Recently, I’ve grown tired of the Layer 2 mudslinging contests about TPS and fees… Data can be manipulated, subsidies can be piled up, but the key point is: whether the upgrades, tools, and governance changes you promised can be deployed on nodes, and if not, just honestly explain why. Don’t pretend nothing’s wrong.

My partner also complained about me: "You can write a budget for buying pixel art, so why do you get bored when they talk about the treasury?" I don’t know either, maybe because the treasury funds are the easiest to see who’s serious and who’s just acting. Anyway, I’ll first write the budget down on paper and hold back from impulsiveness.