Someone commented, "Royalties are just the creator's salary"… I understand that sentiment, but in the secondary market, to put it simply: traders only want liquidity and certainty. If they can avoid it, they avoid it; if they can't, they play less. No matter how beautiful the on-chain rules are, in the end, transactions are still routed through aggregators, private pools, or even executed off-chain and then settled "in reality." Seeing this kind of routing in mempool is quite common.

I'm now more inclined to see royalties as a kind of "social contract," not a mandatory tax. Of course, forcing it on-chain is satisfying, but once liquidity leaves, creators might not truly benefit; if it's not mandatory, it's easy to be freeloaded, which feels awkward. Some also compare it to RWA (Real-World Assets), saying that U.S. Treasury yields are so transparent and stable, so why are on-chain yield products more expensive? I personally think: yield is yield, culture is culture, don’t force them into the same table of numbers. For now, that's it. Continuing to watch the congestion.