Today I tidied up the table and found an old charger, the shell still shiny like new, but the wires have long been intermittently broken... Suddenly I thought of those RWA on-chain projects recently, honestly, a lot of liquidity is just "shiny shells." On the chain, it looks like you can sell at any time, but when you actually redeem, you find a bunch of clauses: queuing, window periods, who sets the price, pausing in extreme situations—anyway, rushing won't help.

In the group, these days, there's been a lot of discussion about stablecoin regulation, reserve audits, and various "are they about to de-peg?" reposts, with emotions swinging like a roller coaster. I'm feeling a bit Zen now: first, understand how the redemption process works, who covers the worst-case scenario, or else just slap a "on-chain" label for the fun of it. I'll change my avatar to a duller gray for now, just like that.