Over the past couple of days, I’ve been seeing new L1/L2 incentives to drive TVL again. Old users complain about “mine, then sell”—basically, the attention gets swapped out fast, and so do the scythes. Back when I was into NFTs, I was “educated” a few times by the message, “If you don’t go in today, you’ll miss out.” Only later did I realize: a hot topic isn’t an opportunity by itself—it's noise that makes you lose your judgment.

My own clumsy method now: first ask yourself, once the hype dies down, would you still be willing to hold/use it? If the answer is, “Honestly, I just want to farm a quick round,” then just assume you’re here to be liquidity. If you make money, it’s luck—if you lose, don’t blame anyone. A friend also told me a few days ago, “Go in first, worry about it later,” and I replied: I’d rather move slower—at least I’m not paying tuition every time, right when it’s the loudest. In any case, I only do small amounts with high conviction, and spend more time watching how things move on-chain, and less time seeing how people shout in their timelines.