I've been lurking in the group for a long time, but I can't help but say this: as for stablecoins, they seem stable on the surface, but they're actually more like "confidence tokens." When reserve transparency isn't enough, people say they're not worried, but they're already looking for an exit... De-pegging often isn't about the balance sheet collapsing first, but about a run on confidence taking off first. To put it simply, the more ambiguous the information, the easier it is to be led by the nose.

Recently, someone also complained about validators' income and MEV making the ordering unfair. I can understand that; once on-chain rules make people feel "cut in line," that distrust can spread from the settlement layer all the way to stablecoins. Anyway, I only dare to use those that can be redeemed at any time and have clear disclosures. When crossing chains, I also pay more attention to the bridge's risk control. No matter how fast the bridge is built, it must be stable first.