Recently, the group has been arguing again about a certain stablecoin slightly de-pegging, and honestly, many times it's not that the assets are truly gone, but the psychology of "I'm afraid others will run first" that drains the pool first. As for transparency of reserves, just throwing out an audit report isn't enough; the key is whether on-chain data matches up, whether there are bottlenecks in the redemption channels, and in extreme cases, who goes first and who goes later—don't make it look like a lottery. By the way, when everyone complains that validators/miners rely on MEV to grab ordering, retail investors always eat the tail end, it's also amplifying this run-on-sentence feeling: if rules are unclear, all that's left is to run first. Anyway, when I see mechanisms with holes, I report them privately first; fix them if possible, don't wait for the community's emotions to explode first.