To be honest, lately watching stablecoins “slightly de-peg” in those little moments has been more nerve-wracking than seeing a scam coin pump… Normally I always think 1 is 1, but once it starts to wobble, everyone’s first reaction is to run first. The psychology of a bank run is really all too real. The whole thing about reserve transparency is also pretty awkward—on the surface, the statements look very nice, but in truly extreme market conditions, whether you can redeem at any time and how fast you can redeem—that’s the key.

I’m also not sure if I’m just being too cautious, but anyway, with the stablecoins I get now from interaction-based “farming for rewards,” I’ll always diversify them—if I can swap, I swap some into other assets. Don’t put everything into one basket. Also, let me rant a bit: it’s not unreasonable that recently, people have been saying that on-chain data tools and the tagging systems are “lagging / potentially misleading.” Sometimes an address looks clean at first, but after you transfer it around twice, it starts to look tainted… So it’s still better to trust less blindly and leave yourself more exits. For now, that’s it.