When I look at PFP projects now, my first reaction isn’t “is this image good or not,” but “how long can this team last.” Whether it’s a membership card or brand empowerment, in the end it’s just a long-term meal ticket. But most projects haven’t even managed to make it to issuing a second card before they play themselves out. Anyway, ever since recent cross-chain bridges were stolen from and oracle reports started showing errors, everyone has been waiting for “confirmation,” but in the process of waiting, many projects panic on their own so badly—how could they even have the mindset to care about holders’ feelings? To put it plainly, many so-called “brands” are nothing more than an attention grab: you pay attention to them, they harvest you, and then they switch to the next script. What I’ve seen that actually lasts, though, are the teams that didn’t make much of a fuss at the start and quietly iterated the governance details. As for what I’m “most afraid of missing,” it’s not the opportunity—it’s those real, small, irreproducible details lost in the heat of the moment.

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