Recently I’ve been seeing a lot of people talk about unlocks and the sell-pressure they can bring. When I flip through the token calendar, it really is packed. To be honest, I panicked at first too, but later I thought about it: sell-pressure anxiety is actually a good opportunity—it helps us filter out which projects genuinely have real buyers willing to take the tokens.

Re-staking has also been pretty hot lately. In essence, it turns one layer of “insurance” into multiple layers of insurance, so returns compound—but risks compound too. Don’t just look at APY; you have to check whether the underlying assets are actually solid, whether the bridges have been exploited. Before I add any position, I always take a quick look at on-chain data to see if there’s anything abnormal in the flows.

Anyway, narratives are like the weather—the wind can change—but the chain itself is the kite string. I’m a bit curious: how are you guys assessing which re-staking projects are “safe” versus just a “phantom illusion” right now?