Recently, everyone has been talking about RWA on the chain, but what strikes me more isn't "assets being truly real," but rather the illusion of liquidity that looks very lively: on-chain pools, market making, candlestick charts all seem quite legitimate, but when it comes to redemption, there are a bunch of clauses like "T+N," "window period," "limit caps," "pause rights." Basically, you think you can withdraw anytime, but they say you have to queue first. Especially when a major public chain upgrades or maintains, and the group chats are guessing whether projects will migrate, my first thought isn't whether they'll migrate or not, but whether the "redemption channels" will be tightened along the way. Anyway, now whenever I see the words "redeemable," I want to grab a magnifying glass and scrutinize every word—my obsessive-compulsive tendencies kicking in... That's all for now.