Recently looking at a bunch of RWA projects that are being put on-chain, they’re packaged to look pretty legit—things like “on-chain liquidity” and “redeem anytime”—but the more I look, the more uneasy I feel: the little trading volume in the pool is often just a liquidity illusion. And when everyone really wants to redeem together, the terms are full of all kinds of T+N, limits, manual reviews… Basically, it’s still just standing in line at the door. Last night I almost impulsively uninstalled a few testnet wallets, so I wouldn’t keep thinking about the airdrop paths, but then I thought—doing your homework is better than rushing blindly. I’ll get clear on the redemption terms and the liquidation order first.

I’ve really seen enough of that blockchain-game kind of doom spiral—inflation + studios + coin price crashing. On the surface it looks prosperous, but it all depends on new money coming in. If RWA also plays the same game, then in the end it’s “assets on-chain, but people can’t get out.” Anyway, I’ll start by trying with a small amount—if I can redeem, I’ll add more; if I can’t, then I’ll treat it as tuition.