Just woke up and saw someone talking about whether stablecoins will lose their peg again. Honestly, it's not just a technical issue; it's more like a bank run mentality: the more you worry, the faster others run. As a perpetual old-timer who has seen a few small deviations, the scariest part isn't the price itself, but the on-chain redemptions clogging up, and the atmosphere of everyone sharing screenshots in the group... As for reserve transparency, nobody pays attention normally, but when something goes wrong, it becomes a lifeline. But don’t blindly believe that “a report will stabilize everything,” because most people can’t understand the reports anyway. Recently, new L1/L2s have started throwing out incentives to attract TVL, and old users complain about “mining, selling,” which I find quite relatable: liquidity comes quickly, and it leaves just as fast. When the wind blows, who cares about your ecosystem narrative? Anyway, I now prioritize whether I can redeem at any time, and I’ll hold back on leverage... as much as possible.