Recently, the secondary market royalties have sparked a debate. To put it simply, everyone wants a piece of the same pie: creators want stable income, exchanges/aggregators want to add fewer ingredients, buyers dislike the spiciness. But the reality is, royalties become awkward when they leave the realm of "voluntary" participation—forcefully deduct them, and liquidity immediately runs away; don't deduct, and creators' morale collapses.

I'm now more inclined to see royalties as a hybrid of a "tip mechanism + membership fee": if the work truly continues to generate value, keep people engaged with whitelists, subsequent airdrops, offline benefits, and so on; if the flow depends only on transaction fees, it’s a bit like social mining—attention as a mine, but over time, it’s just data spamming and internal competition.

DAO treasuries also need balanced ingredients: incentives are fine, but don’t treat royalties as a perpetual motion machine, since the market won’t back that. For now, that’s how it is.