16. Newbie Trust White Paper, Veteran Focus on Wallet Address
Newbies are most easily swayed by a project's white paper with a vision narrative, lofty terms, and a picture of tenfold future space.
But veterans only look at two things:
Smart contract address;
Project team and VC wallet addresses.
Because everything written on paper is just a PPT; everything written on the chain is reality.
Veterans check the on-chain content including:
Who are the earliest holders? Are there any VCs sneaking in early?
Does the project team address frequently transfer funds or dump tokens early?
Is the on-chain interaction data from real users or just volume-boosting bots?
A project that seems to have a "fair launch" can be concerning if the top three addresses control 80% of the supply; would you still dare to invest?
A protocol that claims to be "decentralized" is useless if the core contract permissions are still controlled by a private key, no matter how beautiful the white paper is.
Newbies look at advertisements, veterans look at the chain;
Newbies look at visions, veterans look at actions.
The beauty of Web3 lies in data transparency, and the problem is that most people are too lazy to look.
If you want to become a veteran, start today by not reading white papers, but learning to open a blockchain explorer.
