These past two days, there’s been more arguing about secondary market royalties. Put simply: creators want a long-lasting, fragrant “tea” aftertaste, while traders just want to take advantage of the heat and flip a few more times. Neither side is necessarily wrong—but once the rules loosen, trust sinks the way tea dregs do, leaving only more aggressively volatile prices and shorter memories.

What’s even stranger is that RWA, U.S. Treasury yields, and those on-chain “yield products” are still being lumped together and compared… I look at it and just want to laugh: one talks about certainty, the other about storytelling. Trying to force them onto the same table just leaves the flavors in your mouth all mixed up. The noise is too loud, and I’m prone to get swept up emotionally—so the noise-reduction strategy is simple: only look at how the contract splits the revenue and where the money flows; don’t pay attention to who’s shouting the loudest. Don’t chase the hot soup—first check whether it’s actually hot.