Recently, I’ve looked at several more blockchain game pools, and the more I see, the more it looks like a collage: on the surface, it’s “high yields,” but underneath, it’s all inflation supporting it. To put it simply, what everyone receives isn’t a reward, but rather the selling pressure of the future being pushed forward to you. It becomes even more obvious when the studio gets involved; their quick hands and scripts drain the output, the pool’s liquidity can’t keep up, and the token price starts a self-reinforcing spiral—more and more mining as it falls, and it keeps falling the more you mine...

I thought that just designing the royalties/fees nicely could buffer this, but I realized that when panic hits, people don’t care about these details—they run first. Now, when I evaluate blockchain games, I focus more on “where does the output come from, who is continuously taking the other side,” and if I don’t understand, I just treat it like an exhibition and avoid it.