Recently, people keep touting that RWA (Real World Assets) on the chain can bring "real returns," and I start to feel a bit cautious: the transaction volume on the chain is often just a liquidity illusion, and when it comes to redemption, the terms flip—lock-up periods, limits, delays, and even who determines the asset status... Frankly, what you get isn't cash, but a bunch of promises that "might be redeemable." Now everyone is also watching the unlock calendar every day, afraid that staking/token unlocks will cause a dump, but RWA is more like an "invisible unlock": it looks stable most of the time, but when redemption concentrates, the true nature is revealed. I treat complexity as an enemy; anyway, first understand the redemption terms clearly, and don't be led astray by superficial APY.

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