Recently, the use of funds from the KEY private sale has sparked widespread discussion. Some have questioned whether the project funds have been effectively utilized, but the actual situation may be more complex than it appears.

From an operational perspective, the expenses of public chain projects involve multiple aspects. First is the technical infrastructure, where maintaining just the domain name could cost hundreds of thousands. Not to mention, the monthly expenses for 64 high-performance A-class servers could reach millions.

Secondly, the cost of human resources is also a significant expense. In addition to the salaries of the core team, it also includes expenditures for positions such as community management and content creation. These are all necessary investments to keep the project running continuously.

In addition, expenses related to project promotion, legal compliance, and other aspects should not be overlooked. These are essential investments to ensure the long-term development of the project.

There are views that KEY is operating at a loss. This phenomenon is not uncommon in the blockchain industry, as many projects require substantial funding in the early stages to build infrastructure and ecosystems.

Although there may be financial pressure in the short term, these investments are crucial for the sustainable development of the project in the long run. This approach by the KEY team may reflect their confidence in the project's prospects and their commitment to long-term development.

When evaluating a blockchain project, we should not only focus on short-term financial conditions, but also consider its technological innovation, community building, and long-term development potential. The case of KEY reminds us that the operation of public chain projects is a complex and costly endeavor that requires substantial financial support and long-term strategic planning.