Lately I've been looking at a few more blockchain game pools, and the more I look, the more it feels like an old script: produce first to the max, everyone rushes in, and as a result, inflation suppresses the coin to the point of gasping for air. The pool looks lively with "revenue," but in reality, it's just borrowing against future buy orders. To put it simply, production is like paying wages, inflation is printing wages, and without new consumption scenarios to support it, in the end, only "who can run faster" remains. New L1/L2 projects launch incentives to boost TVL, and I can understand the old users' complaints of "mining, selling," because if rewards are issued but not sold, what else can they do...

Why am I calmer now: I’ve developed a habit — before I get itchy to jump in, I first copy down the net inflow and token release rhythm for the past 7 or 30 days (really handwriting it, slow down), then ask myself: Is this pool’s "income" coming from players spending money, or is the project team just issuing tokens to prop it up? If it mainly relies on the latter, I treat it as a limited-time event, avoid touching it or only hold a small position, so I don’t spend the night staring at the curve and feeling anxious.