I'm now checking whether the project is "really working," and the first thing I look at isn't the roadmap, but rather how the treasury is spending money: where the money has gone, who received it, whether each transaction is like working on a project rather than a lump sum of "consultant fees/market fees" with no follow-up.

Milestones shouldn't just say "Q3 launch"; I want to see verifiable things: code commits, audit progress, testnet data, what governance proposals have actually been discussed... To put it simply, only what the community can review and verify counts.

Recently, there's been a heated debate over the "yield stacking" of pledge/sharing security systems. I understand: on one hand, your treasury says it wants to do long-term security, but on the other hand, it pours all its money and attention into "yield stories," which feels like a nested doll. Who will ultimately foot the bill?
Anyway, I'll keep an eye on whether they can align their logic through spending records and milestones, otherwise all their talk is useless.