Recently, I've seen a bunch of people talking about data availability, ordering, finality—these terms just make my head spin... I'll try to focus on one main thread: what you do on the chain, can it be "seen + not altered"? If data can't be published / costs too much to publish, your interaction records might as well not exist; who decides the ordering determines whether you get inexplicably sandwiched; slower finality just means the period of uncertainty when you're waiting for confirmation gets longer.

By the way, RWA, US bond yields, and on-chain yield products are often compared together. I just want to clarify first: where does the yield come from, whether it’s actually recorded on the ledger, and whether issues can be traced back. Don’t just focus on annualized returns; even with a stable position, you can’t withstand the illusion of certainty. I’m not an expert either; after staying up late reading documentation, this is my impression for now.