Tried an RWA token once—I bought something that was marketed as “on-chain US Treasury bonds.” The liquidity looked pretty deep, but only after I placed my own orders did I realize that all that “depth” was being faked; once I cancelled, it fell apart. Put simply, it was a real liquidity illusion. If you actually want to redeem, you have to go back and forth with the underlying protocol and the custodian to get it confirmed—so slow it feels like an international bank transfer. Recently there were the cross-chain bridge hacks, and the pricing fiasco caused by an oracle—haven’t people been staring at “awaiting confirmation” forever? Anyway, being cautious like me, I’ll just wait and see for now, so I don’t get stuck later because of the terms.