Recently, I looked into data from several blockchain game pools again, and I’m really getting tired of it: the more output there is, it looks lively, but in reality, inflation is stealing the future. In the early stages, everyone uses rewards to reinvest, and the pool is like... or rather... like an ever-inflating tire, pumping up short-term, but the air leaks out faster and faster; once new funds stop coming in, selling pressure keeps the price down, and even a high APR is just a number. Now, new L1/L2 projects launch incentives to boost TVL, and old users complain that “mining, then selling” isn’t without reason—basically, there’s no real consumption scenario for the output, only cashing out. Anyway, I now look at blockchain games mainly to see “where the rewards come from and who ultimately takes over,” and if I don’t understand it, I avoid it—one pitfall is enough.

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