Recently, I've been looking at the old problem of stablecoins losing their peg again. To put it simply, many times it's not "insufficient assets," but rather everyone suddenly wants to rush to withdraw at the same time: the less transparent the reserves, the easier it is to trigger a bank run mentality. You give me a bunch of audit screenshots but they are slow to update, and on-chain/off-chain data doesn't match, my first reaction is to withdraw first, since others will do the same... Later I thought it was pretty funny, but people tend to become very mechanical in that kind of atmosphere. By the way, the narrative around modularity and the DA layer—developers are talking excitedly, but ordinary users are left confused. It's actually similar: the greater the information gap, the more fragile the confidence. My approach is still to prioritize diversification, limits, and verifiability at any time—don't treat "trust" as risk control.