Lately I've been looking at stablecoins again, and I feel that the scariest thing isn't actually "technical errors," but the moment when everyone panics together during de-pegging, and bank runs happen faster than on-chain congestion. As for reserve transparency, honestly, it's about giving people a clear understanding: whether there are real assets, how often disclosures are made, who bears the ultimate responsibility if something goes wrong... Otherwise, it might look stable with a 1 peg most of the time, but any small disturbance can turn into a psychological test.

The past couple of days in the group have also been quite interesting. Some are complaining about the stacking of yields from re-staking and shared security being a bit "nested," while others can't help but click to check the annualized rate. Human nature is just like that. I still stick to my old approach: avoid emotional trades, don't go all-in on stablecoins, diversify a bit, leave some withdrawal channels open—being able to sleep peacefully is the most important.