Last night, I saw a project shouting "Milestone Achieved" again.

While my eyes were fighting sleep from exhaustion, I thought:
You should clearly explain how the national treasury funds are being spent...
Honestly, right now I’m more focused on whether the project is taking things seriously, not just the hype on Twitter.
First, look at the expenditure to see if there’s a rhythm: development, audits, infrastructure—these "slow money" components—are they taking up a high proportion, or is most of the budget going to market, partnerships, or conference sponsorships?
Then compare it to their own set milestones—are they breaking down progress monthly, and are the deliverables verifiable by the community (code, documentation, on-chain data)?
Not just a vague phrase like "ecosystem prosperity" to brush it off.

Recently, the modularization and DA layer narratives have reignited developer enthusiasm, which is normal for users to be confused...
I prefer teams that can speak plainly about "Why we use DA, where it’s applied, and how much money was spent on it."
Anyway, I have a low-frequency setup; I’d rather miss some gains than give liquidity to projects that treat the "treasury as fireworks."
That’s all for now, I’m going to sleep.