Recently, watching RWA go on-chain is quite exciting but also a bit scary. To be honest, I’m just a small-minded LP who’s been hurt by impermanence... Seeing depth and transactions on-chain, but many of the liquidity are actually “can’t exit once entered,” with redemption terms like: T+ several days, limits, queues, and even possible suspension in extreme cases. Usually, it’s fine, but once the market shakes, you realize you bought something that “looks very liquid.”

Sometimes I really envy those who dare to go all in. When others show their positions, I get itchy to do the same, but now I always consider “how long it takes to redeem in the worst case” as part of the fee calculation before entering a pool. Otherwise, even with attractive returns, it all feels like an illusion. By the way, I see L2 constantly arguing over TPS, fees, and subsidies, but I care more about: no matter how fast cross-chain transfers are, who ultimately has the final say on the exit? Let’s leave it at that for now—better to sleep cautiously.