My phone popup has popped up again, and a bunch of group messages keep showing—those red notification dots keep multiplying. People are talking about stablecoins needing regulation, reserve audits, and even that someone says they want to de-peg… It’s making your stomach feel uneasy. But lately, I’ve been more concerned about the whole setup used by chain games. To put it plainly, the output is just too “easy.” Issuing tokens is like turning on a water faucet—people who come in at first feel great, and then later it all depends on ever-higher new inflows to keep things going. The money in the pool gets chipped away little by little by inflation, and when the price starts to soften, everyone withdraws at the same time, and it’s empty in an instant. No matter how you tell a story about the market, if the economic model can’t hold, it can’t hold. Anyway, now that I see high yields, I treat it as a risk warning first—keep your position smaller. I’d rather miss out than get dragged along.