Recently, I've been looking at things on RWA blockchain, and the liquidity on the page looks quite lively, with candlestick charts like tea soup being stirred. Honestly, many of these are "able to sell" but not "able to redeem." The redemption terms are a long list—T+N, limits, white lists, windows... When you really want to run, you realize the cup rim is hot. I also specifically monitored a certain pool on-chain; several large swaps in a row caused the slippage to spike, and the pending orders just sat there like a photoshoot. Plus, recently, some regions have been tightening and loosening taxes and compliance, causing deposit and withdrawal expectations to fluctuate, making it easier for people to be fooled by the appearance of "smoothness." Don't chase after hot soup; first see if it's hot or not. I, for one, treat it as a fixed-term with a barrier, not as a flexible one.

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