Lately, I've been a bit curious about projects on RWA (Real World Asset) on the blockchain, but what I care more about is not the trading volume, but whether the redemption terms are very strict: T+ how many? Is there a pause switch for redemptions? Once the underlying assets get stuck, the on-chain liquidity can easily become an illusion; the price looks stable, but when you want to exit, you realize the door is very narrow.

Seeing everyone arguing about staking again and the shared security model—whether "yield stacking" is just a pyramid scheme—I become even more sensitive: frankly, stacking yields is fine, but the key is whether the redemption and risks are also layered, and who ultimately bears the risk. Anyway, my current approach is very simple: small positions, and when my emotions heat up, I just close the screen... I’ll wait until I understand the terms clearly before making any moves.