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Lately, I've been noticing that the more projects on RWA (Real-World Asset) chains there are, the more I feel that the perceived depth on the chain is sometimes just a "liquidity illusion." The pools look pretty full, but when it comes to redeeming or exiting, a quick check of the terms: T+ a few days, queuing, limits, or even situations where it’s paused outright... Basically, what you buy might not be "sellable at any time," but rather "waiting for notification."
Before placing an order now, I first check the redemption window and who’s market-making; if the slippage isn’t right, I’ll cut losses and withdraw immediately—don’t wait until something really happens and realize you’re holding a fancy certificate.
Recently, those new L1/L2 projects offering incentives to boost TVL are the same—hype and excitement, but I really trust the old-timers’ complaints of “mining, then selling.” Anyway, I’m just playing it safe first.