I tried an RWA project once. I originally thought, “Putting assets on-chain = you can cash out anytime.” But when it came time to redeem, it left me totally confused—one of the clauses in the terms said “pause redemptions in the event of abnormal market conditions.” Isn’t that just a polite way of saying “the door’s shut”? It’s just a liquidity illusion.

It’s the same playbook as those new L1/L2 chains that hand out incentives to pump TVL. Long-time users complain about “digging, then selling,” and then when you go in, you find out it’s all bots running first.

Anyway, now whenever I see RWA, I’ll check the redemption terms first. Things like “redeem at a discount” and “lock-up period” get blocked immediately. I’ll save on gas fees—and at least my money won’t be trapped in there and unable to get out.