People think once the parallel and sharding narrative heats up, the on-chain world is about to enter a new “golden age” for new public chains—just rush an ecosystem and you can cash in the bonus.

But in reality, with bridges constantly moved around and liquidity scattered across shards, it’s lively—but when it’s time to actually cash out, whether the exit routes are blocked and whether assets are locked inside some half-baked protocol are the real hard problems to watch.

Recently, putting RWA and on-chain yield products together looks appetizing—U.S. Treasury yields seem pretty attractive—but anyone who understands knows that the so-called “risk-free” part on-chain should be questioned: how the underlying assets are liquidated, and how long it takes to exit—those are the hidden traps.
Anyway, I’d rather move slowly, figure it out first before acting.