Today it was raining and the traffic was so bad I doubted my life, and the coffee I bought was already half cold... I casually looked at the treasury expenditures of a certain project, and honestly, now I judge whether they are "seriously working" by focusing on two things: whether the money spent corresponds to milestones, and whether those milestones can be verified on the chain or within the product.

I'm most afraid of those "budget plans that look full but are actually empty" or the occasional "ecosystem incentive launch," followed by old users complaining about mining and selling while silently leaving the group. Whether it's new L1/L2 pulling in TVL or not, if the treasury is really going to spend, don’t just subsidize trading volume. Can they also submit monthly reports on documentation, tools, governance rhythm, bug fixes? Anyway, for someone like me who forgets everything after minting, I rely on the project team to keep waking me up: don’t just tell stories, speak with milestones.