I look at whether the project is working seriously, not listening to stories first, just checking the treasury spending: the proportion of "dirty work" like R&D, audits, and nodes is high, or is it mostly market cooperation, consulting fees, offline events... In short, where the money flows, the team's focus is there. The milestones shouldn't just say "Q3 launch," but should match the activity on the chain: code commits, test coverage, audit reports, whether bug bounties are really open. Recently, there's a lot of anticipation for testnet incentives and token expectations, guessing daily whether the mainnet will release tokens. I'm actually more concerned about whether they've polished the basic experiences like routing and slippage when spending money, or else releasing tokens is just making the sandwich more delicious. Staring at these details until my eyes hurt, and my neck's a bit stiff, so I’ll turn off the computer and take a break.