Recently, there's been talk about narratives like parallel processing and sharding. It sounds pretty sci-fi, but I'm actually more concerned about a very down-to-earth issue: once assets are put in, how do you get them out if something really goes wrong? Bridges, cross-chain messages, shared sequencers... basically, all adding complexity. The more complex it gets, the more the security boundaries start to blur.

Some people compare RWA, using U.S. Treasury yields as an anchor, and various on-chain "yield products." I thought everyone would be more cautious, but the atmosphere is actually more excited... Maybe I'm too conservative. Anyway, when I look at projects now, I ask myself two questions first: Who holds the keys/permissions? Can I withdraw in one or two steps in the worst case? If you can't answer these clearly, then forget about "future narratives"—the excitement is someone else's.