Recently, parallel processing and sharding have been a hot topic, but I still see the same old issues in the market: how the money comes in and how it can go out freely. Whales aren't really mysterious; what’s truly interesting is the rhythm of batch transfers, routing through several hops, and then dumping into exchanges—it's basically the same as whether you can withdraw at any time.

Right now, comparing RWA, US Treasury yields, and on-chain yield products all together sounds quite stable, but once on-chain encounters congestion, cross-chain issues, or smart contract permissions, the exit paths suddenly become a mystery... Anyway, I personally focus on where the funds enter the protocol from, whether the yields rely on subsidies, and if large addresses have tentatively tested withdrawals in advance. Honestly, security and the ability to exit with dignity are more important than narratives—don’t get carried away.