Lately, looking at RWA on the chain, it increasingly resembles a tourist attraction with "lots of people":


The on-chain transaction volume looks quite lively, but when you ask about the redemption terms, you realize the tickets are free, and you have to queue for exit or it might close...
Liquidity, to put it simply, is an illusion plus a time lag.
Right now, I focus on two things when I check out these projects: who can redeem under what conditions, and who holds the assets off-chain after redemption.
Just looking at "tradeable" isn't enough; if you can't cash out, it's just a game of turnover.
By the way, I want to complain that AI Agents/auto trading have been hyped up quite a bit lately, with no one paying attention to safety margins, and the interaction volume is skyrocketing...
Anyway, I finish my tasks and leave, whether the threshold is reached or not, I first make sure I understand clearly before going all in.
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