These past two days, people have been talking again about concurrency and sharding, and it sounds like “the chain is finally about to take off.” But while I’m here to watch the buzz, the real money I’d actually dare to put in depends first on two things: where the assets are truly custodyed, and whether you can get out. In plain terms, no matter how high the throughput is, if a contract has issues or a bridge glitches, and the exit path isn’t clear, it’s all for nothing.

Recently, RWA has been compared alongside U.S. Treasury yields and on-chain yield products. Instead, what I care about is this: where does the yield come from, who’s backing it, and what I do if things turn worst-case—how I withdraw. No matter how good the yield curve looks, if you don’t get a smooth exit channel, once the market hits a turning point, it’s easy for things to turn into a stampede. I’d rather miss out on a bit of upside than spend the night staring into pending transactions, lost in thought.