Recently, I’ve been seeing a bunch of RWA on-chain promotion posts, and it feels like they’ve put “liquidity” through a ten-level beauty filter: on-chain, it looks like you can sell anytime, but the moment you actually try to redeem, you realize the terms are written like a maze—T+N, limits, manual review, and even having to wait until the offline assets are processed… You think you’re ordering takeout, but you’re really lining up to get a permit.

Forget it—speaking plainly: don’t just look at how deep the pool is. First ask yourself, “When I urgently need money, can I really exchange it back?” and “Who has the final say?” Otherwise, on-chain transactions may be smooth, but off-chain redemptions get stuck into a PowerPoint presentation—funny, sure, but not really funny at all.

The kind of “chain game” crash story is pretty similar too: once inflation kicks in, the studios get flipped over, the coin price spirals, everything looks lively on the surface, but the underlying withdrawal exits keep getting narrower. Anyway, whenever I see “guaranteed profit + high liquidity,” I immediately reduce my position a bit—memes are plenty, but don’t treat your holdings like a joke.