I check whether the project team is actually serious about doing work. Lately I’ve gotten more and more reluctant to listen to their grand narratives—I just watch two things: how the treasury money gets spent, and how milestones get delivered. If treasury spending is always “market promotion/partnerships/consulting fees,” with money being passed around layer after layer, then it basically boils down to buying attention; but if I can see releases following a monthly rhythm, tied to specific deliverables (for example, new mechanisms going live, liquidity tools that genuinely get used, NFT floors that are actually being held up), then even if they move slowly, I’m willing to wait.

Recently, it all cycles with memes and celebrity shout-outs—hot fast, cool fast… I really believe what veteran players tell new folks: don’t take the last baton, especially since I’ve had shaky hands myself.
What I fear most isn’t missing out on opportunities at all—it’s that while I’m still shouting, “This wave has potential,” the project team is quietly treating the treasury like an ATM.