It's raining today and the roads are still congested, the coffee on the table has gone cold... I just checked the blockchain, and the debate about whether the "secondary royalties" for NFTs should be mandatory has flared up again. Honestly, I can understand creators wanting to continue earning royalties, but the reality on the trading side is tough: looking at the routing layer by layer, once royalties become a "must deduct" fee, someone will find ways to bypass it in the path—changing the aggregator's entry point, OTC trading, or even resorting to more aggressive matching methods. In the end, it's not about disappearing but turning into an uglier game.

Recently, a certain region has tightened tax and compliance measures, and everyone's deposit and withdrawal expectations have shifted, making their hands even more shaky: any friction that can be saved is saved, but royalties as a kind of "friction" will be amplified. My cold take is that royalties shouldn't be seen as a moral issue, but more as a mechanism issue: if you want predictable income, you have to accept fewer predictable transactions; if you want liquidity, don't expect to enforce deductions strictly. Anyway, on-chain, there’s no room for sentiment—only paths and incentives. That's all for now.