Recently, I've been looking at PFP/membership schemes again. To be honest, I'm a bit cautious now: the hype is real, but often it's just short-term attention with a different shell. Whether a brand can stay valuable in the long term, my simple method is to look at two points: can it retain people even if it drops below the floor price, and can the rights and benefits be useful in a bear market (otherwise a wave of retracement will wipe it out). Modularization and the development of the DA layer are very exciting for developers, but users are often confused—I’m pretty much the same... Anyway, no matter how big the narrative, it ultimately comes down to “why should I hold.” The information environment is too noisy, and my noise reduction strategy is one rule: only track updates related to my holdings, block everything else first, and don’t let emotions leverage me.