I've been lurking in the group for a long time, and today I just can't hold back and decided to say something... Recently, I've been looking at projects on RWA blockchain, and that little bit of "liquidity" on the chain sometimes really feels like an illusion: seeing the pool deep, matching smoothly, but when it comes to large withdrawals, after flipping through the terms, I find there are lock-up periods, queues, discounts, or even "pausable" features. Basically, what you get is a conditional IOU.

Now I’ve added a dedicated column in my spreadsheet titled "How to redeem, how long it takes, who decides," because just looking at TVL and trading volume can easily be misled.

By the way, I want to complain that outside, L2s are still arguing over who has stronger TPS/fees/subsidies, but the more core issue on RWA is actually: whether the door to off-chain assets can be opened on time... That’s all for now, don’t be fooled again by memes and surface-level data.