Recently, the "play-to-earn" model in blockchain games has started to pick up again, and I still feel a bit uneasy... Honestly, many pools are just inflation feeding the output: new coins keep being printed, rewards keep being distributed. At first, the APY looks pretty attractive, but later, selling pressure comes in, and the small real demand in the pool simply can't keep up. Liquidity is like a burst balloon—more top-ups only make it deflate further. No matter how sophisticated the "burn/rebuy" mechanisms are, as long as the output outpaces consumption, it will eventually collapse.

What’s more annoying is that when external conditions tighten (like a region imposing taxes or stricter regulations), everyone’s deposit and withdrawal expectations change even faster. For a chain game that relies on sentiment to survive, it becomes even easier to crash.

My friend also mocked me, saying, "You’re playing a game like you’re doing an audit." I can’t do anything about it. I don’t dream of getting rich quick; I just don’t want to put my coins into a pool that’s bound to leak automatically... Anyway, I’d rather earn less now than deal with those pop-ups asking for authorization dozens of times a day. That’s it for now.