Recently, I’ve been looking at projects on RWA (Real World Asset) on-chain, and on the surface, the liquidity looks pretty good, with assets hanging there ready to buy or sell at any time. But I can’t help but keep checking the redemption terms: is it T+0 or do you have to wait for a window period? Are there minimum redemption amounts, or “garden gate closures” that pause redemptions? Honestly, just because the secondary market is lively doesn’t mean you can actually turn the underlying assets back into cash.

There are also many on-chain data tools and address labels being criticized for being outdated or misleading, and I kind of agree… Seeing a bunch of “institutions are buying” tags can be pretty misleading and dangerous. Anyway, my current approach is: start small, observe the redemption process carefully before adding more, and avoid those opaque black boxes with unclear information. That’s it for now.