I’ve set a small rule for myself: I only treat stablecoins as a "bridge," not as a savings jar. To put it simply, when a de-pegging actually happens, people aren’t primarily looking at the mathematical model; they’re watching who runs first and whether they can cash out that breath. No matter how beautifully the reserve disclosures are written, once information is cut off, panic withdrawals spread like a stampede. Recently, I’ve also heard rumors of increased taxes and tightening or loosening of compliance policies in certain regions, which shifts deposit and withdrawal expectations, making panic even easier to ignite. Anyway, I’d rather earn a little less interest than get stuck at the door when liquidity is most needed. That’s all for now.