The core issue isn't the unlocking time itself, or rather, adjusting the unlocking time won't solve the fundamental problem. The real issue is, "Why can a project with no users, no product, and only a white paper be valued at billions?" If the underlying assets have no value, then any sophisticated mechanism design is just a castle in the air. Innovation in the industry isn't because money can't be released; it's because the money was initially invested in the wrong places. Therefore, VCs must lose money. Only when those who followed the trend and inflated prices lose money and truly exit, tightening their purse strings, will valuations come down. Why do many people complain about the long unlocking period? Because by the time it's your turn to unlock, the coin is worthless. Why is the coin worthless by the time it's your turn to unlock? Because the team has stopped working and the project is dying. Why is the team stopped working and the project is dying? Because the initial valuation was too high, making further effort unnecessary. And why was the initial valuation too high, making further effort unnecessary? Think about why. Of course, it's because you VC fools personally inflated it. So you have to reap what you sow. If, when it's your turn to unlock, the team is still working themselves to the bone, user revenue and all sorts of metrics are growing, and they've secured a place in the industry or even expanded their territory, would you still complain about the long unlocking period? I'm not targeting anyone in particular; I'm talking about all VCs.