Lately I’ve been feeling a bit bored of looking at on-chain interactions. A lot of people are chasing airdrops, but honestly, there are more cases of people getting “rugged” than I thought. Look at those projects where you spend the gas fees, put in a lot of effort to interact—only to end up with nothing, not even a minimum guarantee, or it just goes to zero. It’s really heartbreaking.

My own habit is to first look at fund flows and whale behavior. If a project even has whales repeatedly doing small tests or treating things coldly, then I definitely won’t rush into it. After all, airdrops aren’t a festival you have to race to—being anxious won’t help.

Recently there’s also been something pretty interesting: the NFT royalty royalty-fee argument has flared up again. Creators want to collect royalties, but the liquidity in the secondary market is too poor, so neither platforms nor buyers are happy. To put it plainly, everyone is trying to maximize their own interests, but nobody in the ecosystem is willing to be the one who takes the loss. This is actually a bit like airdrops—when you think you’re participating in the ecosystem, they might be using you as a tool to inflate activity.

I’m curious though—how do you all judge whether an interaction is worth doing? Do you look at community hype, or do you watch the on-chain data? As for me…?