I wonder if the project team is really working hard, mostly ignoring stories, focusing first on treasury expenditures and whether milestones match up. Spending money is fine, but the key is where the money goes: is it just sponsoring conferences, buying traffic, changing avatars, or can we see slow but solid work like development, security audits, documentation, and tools? Also, don’t write milestones like wish lists; it’s best to have verifiable deliverables, or I’ll just pretend I didn’t see it.

Recently, that mainstream public chain is upgrading/maintaining, and the group chat has started guessing whether the ecosystem will migrate… I instead look at whether these teams have done compatibility work, contingency plans, communication pacing in advance, and whether the treasury has spent money on insurance (audits/emergency support/node support) for “those days when things might go wrong.” To put it simply, the treasury is like a ledger and a health report: you can’t tell how handsome someone is at a glance, but you can see if they’re overdrawing.

My own review habit: write the entry reason as “treasury expenditure = delivery,” the exit condition as “two consecutive milestone delays with increased marketing,” and emotional rating… When things get lively, I first disconnect for ten minutes before coming back. Anyway, I don’t want to be led by FOMO.