Recently, for the third time, I saw someone hype up RWA on the chain as "stable" and "backed by underlying assets," and I just want to roll my eyes... The depth of liquidity pools on the chain is simply not enough to support the sentiment. If someone really wants to redeem, they'll find the terms are like a maze: T+ several days, limit caps, KYC required, and even "redeem can be paused." Honestly, what you're buying might be "hope for redemption eligibility," not liquidity that can be exited at any time. Now hardware wallets are out of stock, phishing links are everywhere, people's security awareness has improved, but don’t just focus on private keys—redemption clauses, this kind of "legal slippage," are the most insidious. Anyway, I only dare to use small positions as observation samples for now. That’s all.