Someone asked me how to tell if the project team is serious about their work. Honestly, I first look at how the treasury funds are spent: it’s not just “the proposal was approved, so that’s it,” but whether each expenditure has corresponding milestones and deliverables that can be reviewed later. Those who frequently spend on consulting fees, marketing costs, and so on without tangible results make me a bit anxious… because in the end, it often comes down to relying on emotional hype to pump the price, and I, as an impulsive trader, am most likely to get caught up and burned.

There's also a small detail: delaying milestones isn't necessarily a bad thing, as long as it’s explained clearly, and the money shouldn’t keep being spent prematurely. Recently, I’ve grown tired of the NFT royalty debate—on one hand, they say they want to support creators, but on the other, they’re worried about secondary market liquidity. If a project truly wants to have both, it shouldn’t just post long statements of stance; it needs to show a product or data that can actually run. When spending treasury funds, there should be a tangible impact. Anyway, before I place an order now, I tend to check the treasury flow a couple of times; being able to hold back even a little is a good thing.