Is listing RWA on the chain really just "able to sell at any time, able to redeem at any time"?

Anyway, I increasingly feel that much of the liquidity looks very attractive: being able to click a button on the chain doesn't mean the underlying assets can be immediately liquidated, especially with those redemption terms like "window periods / limits / delays / fees," which no one pays attention to normally, but when the market is panicking, everyone jumps in. Recently, during extreme funding rate situations, the group debates whether to reverse or continue to inflate the bubble, I just want to take a closer look at the redemption rules of RWA: who is actually promising, under what circumstances can they refuse, how is the queue calculated... Frankly, being able to redeem ≠ being able to redeem whenever you want. Slow down, don’t act impulsively.