Lately, I've been looking at the promotion of RWA on the chain, and I feel that the biggest problem isn't "whether there are assets," but liquidity is like a beauty filter: on the chain, it looks like you can sell at any time, but when it comes to redemption, you realize the terms are as complicated as a maze, T+ several days, limits, whitelists, or even "extensions in special cases"... To put it simply, what you're buying is a certificate that dances very well, not cash that can be used or withdrawn at will.

Right now, I’m focusing on two things: who is actually taking over in the secondary pools, and who is making the final decision on redemptions. Don’t just get excited about TVL and trading volume. (Want to rush in but also afraid of getting burned, socialFi has that old problem.)

By the way, it’s also ridiculous that hardware wallets are out of stock, and phishing links have been so frequent lately… RWA, which looks very "official," is the easiest to let people relax their guard. One wrong click, and it’s like paying tuition to the market. Anyway, I’m just treating all links as viruses for now.