Recently, I've been looking at projects that bring RWA onto the blockchain, and everyone is saying "more liquidity on-chain," but I'm actually a bit cautious: a lot of so-called liquidity is just secondary market transfers back and forth. When it comes to redeeming to offline assets, there are a bunch of clauses about lock-up periods, limits, priorities, and even a "pause redemption" button. In plain terms, liquidity is conditional; you can't just sell whenever you want.

The modular/DA narrative has definitely excited developers, but ordinary users are more confused: when you tell them how strong DA is, they only care whether they can withdraw smoothly without getting stuck in "processing." When I look at RWA now, the first thing I check isn't how pretty the chain looks, but rather the redemption clauses and custodial structures. It's like making a backup for yourself—adding an extra layer of redundancy makes me feel more secure. Anyway, I’d rather go slow than risk getting caught in a "seems very liquid" situation and then running into trouble.