I tried once, putting a small amount into a “seems very stable” stablecoin, and then the small de-peg happened for a few hours—the mindset got straight-up schooled. You think you’re being rational, but the moment the price drops by even a tiny bit, you start wanting to run, and your mind is full of “will others redeem first?” Later, when I looked into the so-called reserve transparency, even if the statements are thicker, it’s still just “trust that the costs are slightly lower.” If something really goes wrong, it ultimately comes down to who panics first. Recently, the Layer 2 crowd has been arguing every day about TPS, fees, and subsidies, but I actually want to see who can clearly explain their stablecoin entry and risk control… Anyway, I’d rather go slower now, and put first priority on those that can be redeemed at any time and are visible on-chain, so I can sleep more peacefully.