These past two days, people have been chatting about whether stablecoins “will break their peg.” Instead, I’ll look first at whether the reserve disclosures contain something that you can tell at a glance matches up. To put it bluntly, whether they break the peg is often not a technical issue—it’s a moment during a bank run when everyone requests withdrawals at the same time. Then you get on-chain congestion + fees spiking, and whoever runs first feels more at ease.

What I care about more right now is the fee structure: for the same stablecoin, the actual slippage and fees can differ across different pools and different routes. When things get tense, liquidity gets fragmented, which can amplify panic; the vibe in the group chat also feels pretty delicate. Some people start posting, “I’ve already switched to X,” and others tell everyone not to panic… Anyway, I’ll just test with small amounts, check the routes, and don’t go all-in betting on human nature.

Also, it’s honestly ridiculous that hardware wallets are all out of stock. There are so many phishing links too—it’s annoying. The more it’s like this, the less you should rush to click on unfamiliar “airdrop/compensation” pages. Slow down first. Whether you save on fees or not is secondary—just don’t save your principal and end up losing it.