Recently, when checking if a project is truly working, I prefer to look at the treasury expenditures first: it's not about how much was spent, but whether there are corresponding milestones on the chain after the money is spent. For example, if funding is allocated for development, then later, does the contract have upgrades, are permissions tightened, are documents/testing completed; if it's for ecosystem building, is it just a bunch of short-lived subsidy pools that run out and then leave. Now Layer 2 is constantly arguing over TPS, fees, and who gives more subsidies—honestly, everyone can fudge the data, but the treasury ledger can't be fooled for too long... These past two days, I've been staring at these details until my eyes hurt and my neck is stiff, feeling like I'm looking through transaction logs searching for Easter eggs. Anyway, I’d rather go slower and see the clear line of "money spent → things materialize."