Recently, I checked a few more chain gaming pools, and it feels like the schemes are basically the same: the rewards at the start are pumped into you pretty aggressively, everyone rushes in to pass the relay along—then the inflation hits like the floodgates have been opened. Once new people slow down, the sell pressure drains the pool dry. To put it plainly, it’s not that the gameplay is bad; it’s that the economic model loves “the rush” too much—printing tickets every day and pushing people to sell. The way liquidity retreats is even faster than I expected.

Some people are still arguing about whether privacy coins and mixing coins are truly original sins. Once the compliance boundaries get torn apart, it’s actually the capital side that panics first: as soon as the winds start to look wrong, they run. Chain games like this, which rely on sustained buy pressure to keep going, can’t hold up any better. Anyway, whenever I see high yields now, I ask myself one question first: who’s going to take these coins? When it can’t be picked up, the pool is left with only “producing yields to smash yourself.” That’s it for now—slowly watching.