Recently, the common pattern in blockchain game pools collapsing is pretty much the same: production is too aggressive, inflation first crashes the token price, then "returns" look very high, but in reality, it's just exchanging more chips for less value... Who would still be willing to come in and take the loss? To put it simply, pools rely on new money, not magic.

Now everyone is comparing RWA, US bond yields, and on-chain yield products. I find it easier to think clearly: the kind of "printing tickets and rewarding" returns in blockchain games are very fake (false or illusory) without underlying cash flow, the more competitive it gets, the more it looks like enlarging pixels, all noise.

My current attitude is just one word: wait. Wait until inflation is under control, wait for a correction to squeeze out the bubbles, wait until I figure out whether I’m playing a game or just fueling liquidity... Anyway, impulsive orders are mostly written into my review.