Recently, the wave of promotion for RWA on the blockchain, honestly, is often just a "liquidity illusion": you can buy and sell on the page, it looks like you can exit at any time, but when it comes to redemption, you realize the terms are like a maze, T+ days, limits, windows, and you might have to queue and get approved first... Last time I invested 23 USDT to test the waters, and it got stuck for 7 minutes without a clear receipt, and I started to think about shorting.

What's more annoying is that the on-chain sorting/packing system is now being heavily criticized by retail investors: MEV front-running, validators making good money, ordinary people placing orders are like waiting in line for a number. For something like RWA, which is already "based on rules," adding on-chain front-running, opaque redemption terms = double the disgust.

Anyway, I now don't look at the story of RWA, I focus on whether the redemption terms are written in plain language and whether the worst-case scenario is acceptable. Before the trend is confirmed, I prefer to stay in cash and complain, to avoid being squeezed out again and staying up late analyzing.