Recently, I looked at a few more blockchain game pools. On the surface, they are "active" and "high output," but basically, it's just excessive inflation: more coins are released daily than are actually consumed. Players initially enjoy it, but later they can only rely on more newcomers to take over. The depth of the pool gets worn thin, and when slippage becomes large, it’s all just stomping on the floor. What's even worse is that many designs only focus on "output" and don't solidly handle recycling; patching things up repeatedly just turns into patch after patch, and the economy remains broken.

By the way, I want to complain about how now on-chain, when you see a large transfer or a hot wallet move on an exchange, some people interpret it as a "smart money signal." I’m a bit hesitant to believe that... Without considering the context (fund collection, wallet swapping, risk control), it’s too easy to get caught up in self-delusion.

I trust data more, and not so much intuition: intuition can be led astray by candlestick charts and group sentiment, but data at least can tell you whether the inflation curve has already pushed the pool to its limit. That’s all for now.