Tokenomics is fundamentally about on-chain incentive transparency. Early participants can profit the most, provided that this set of incentives does not focus solely on short-term effects—liquidity and token release must be designed with a sustainable rhythm. I am continuously monitoring whether these projects truly achieve user retention and value compound growth, rather than just initial hype cycles. If designed properly, users will participate long-term; if the design is sloppy, even high initial returns won't save the project.