Lately, when I review the protocol, I’m used to first checking the treasury outflows and the milestone fulfillment/achievement status. To be honest, quite a few project teams’ roadmaps look pretty good on paper, but in practice the spending doesn’t match the timeline. For example, during the funding phase they say they’ll implement modularization, but after half a year, on-chain transactions are still just the same few batches, and the audit reports haven’t been updated. In cases like that, I usually mark it for observation.

During this airdrop season, the task platform’s anti–Sybil measures are pretty strict. The points-based system makes the “farmers” (the people scraping rewards) hustle like it’s a job. I actually think projects that take things seriously care more about milestone delivery than just handing out points to keep people engaged. For example, in the treasury outflows of Scroll and ZKsync, audits are basically disclosed on a quarterly basis, and the milestones are also not ambiguous. In any case, after looking at a few, I’ve got a pretty good idea of how it really works.

That’s it for now. Recently, I’ve also been going through Scroll’s audit reports, and I didn’t see anything major wrong, but it’s still more reassuring than those projects that only push airdrops and draw big promises.