In the past, I was always distracted by "roadmaps + big words" when looking at project updates. Now I actually prefer to see how they spend their treasury: it's not about spending less, but whether the money spent can match the milestones, such as development, security audits, market making/liquidity incentives. If the expenditure pace doesn't align with the delivery schedule, it feels pretty awkward. To be more detailed, see if they clearly state the "results of spending": who they hired, what they did, why they are doing it now, and how they will verify next time; just throwing a bunch of transfer records is useless. Recently, with extreme fee rates, the community is arguing again about whether to reverse or continue squeezing the bubble. I think, in such times, you can see who is serious: market debates aside, if the project team only knows how to increase budgets to buy hype and milestones are dragged out, then I’ll just close this "pool" for now. When it really turns the page, we’ll see.