Actually, everyone understands that when stablecoins really have issues, it's never the technology that fails first, but people panic first: a single message in the group saying "possibly de-pegging," and hands start clicking to redeem, on-chain gas fees skyrocket.

I, who watch gas cycles, am actually the first to sense that the trend is off... To put it simply, no matter how transparent the reserves are, they can't withstand the emotional rush during a bank run.
Recently, I've been checking out social mining and fan token schemes that promote "attention as mining," which sounds pretty exciting, but in reality, it's more like transferring the bank run psychology onto the timeline: once attention withdraws, liquidity follows, and de-pegging doesn't necessarily happen in the price, it happens first in trust.
Anyway, I no longer feel at ease when I see the words "100% reserves," I just look more closely at on-chain deposits, withdrawals, and redemption queues... I don't know if this counts as paranoia.