Recently, RWA (Real World Asset) projects have been blowing up on the blockchain, but I'll pour some cold water first: the so-called "depth" on-chain is often just a liquidity illusion. You think you can sell or withdraw anytime, but then the redemption terms flip open: lock-up periods, limits, queuing, or even "suspension of redemptions in extreme cases"... Basically, it's just bringing traditional financial barriers onto the chain, with a nice-looking dashboard added.

Some people compare it to being "more fair," and I just want to laugh when I hear that. It's like the current NFT royalty debate—creators want income, but secondary sales complain it affects liquidity—everyone wants to have their cake and eat it too, and in the end, only the one who takes the risk knows who will step in.

There's too much information, and it's pretty annoying. My filtering method now is very crude: I skip long KOL articles and directly find the most unfavorable clause, read it three times; if I don't understand, I treat it as "assets you can't move," and don't gamble with your active funds. That's it for now—no more borrowing to add positions.