Recently, looking at those "gold-earning pools" in blockchain games, the easiest to fail isn't hackers, but inflation + the self-destructive cycle of output: every day minting a bunch of reward tokens, combined selling pressure, the real money (or stablecoins) in the pool are leaving faster than they come in, early players can run away, latecomers are left holding the bag as charity. Many people only focus on the APY, which basically means treating token issuance as profit; when sentiment shifts, liquidity dries up, and all that's left is a mess.

These days, the group keeps cycling through rumors about stablecoin regulation, reserve audits, and various "de-pegging" rumors. Everyone is anxious one moment and excited the next... I actually care more about: who is paying for the pool's output? How long can they keep paying? I see the simple as a trap—when I see phrases like "stable + high output," I assume there's a pit, then I check on-chain inflows and outflows to get a sense of what's really happening.