I tried once, using some stablecoins to play that kind of "on-chain yield," at the time everyone was comparing RWA with U.S. Treasury yields, and the group chat was buzzing like a sweet treat, smooth and satisfying.

As a result, when a small panic spread later, I realized that the scariest thing wasn't the yield dropping a bit, but the kind of "should we run now" bank run sentiment in the chat records, spreading faster than on-chain confirmations.
To put it simply, transparency in reserves is something no one usually pays attention to; when something really goes wrong, it becomes the last lifeline: you may not understand it, but if you can't see or find it, you're more likely to imagine the worst-case scenario.
Anyway, now I tend to pause for two seconds longer on the word "stable," and stay a little less impulsive.