Recently, I keep seeing projects that put RWA on the chain, basically bringing "real assets" into the blockchain, but the liquidity part is a bit like an illusion: it looks like you can buy and sell anytime on the chain, but when you actually want to redeem, flip through the terms, you might have to queue, wait for a window period, and see how the counterparty's face looks... For someone like me who just chills because gas fees are high, the worst thing is clicking redeem and then constantly refreshing/retrying, and my mindset shifts directly from Web3 to an online service hall.

Also, the current testnet incentives and points system are quite similar; everyone is guessing whether the mainnet will issue tokens, and the hype is high; but when it comes to "can I exit" and how long it takes to exit, no one really cares. Anyway, when I see RWA now, I first check the redemption terms, because no matter how smooth the chain is, it’s useless without that.