Recently, I've seen projects on RWA going viral for being on the chain, claiming that on-chain liquidity is better. At first, I was curious too, but after clicking in, I realized that "liquidity" often just means a lively secondary pool; when it comes to redemption, you still have to look at the terms: T+ days, quota limits, and in extreme cases, the ability to pause... Honestly, it's not the same as the idea of buying and selling at will.

I’ve already fallen into a pit once before (not really a pit, more like paying tuition). I didn’t understand the redemption rules but rushed in anyway, and when I wanted to withdraw, I found I had to queue + wait for a window period. The price didn’t drop much, but my mindset collapsed first. Later, I set a rule for myself: if I don’t understand the redemption terms, I won’t move; better to miss out.

By the way, recently, everyone has been speculating whether projects will migrate before and after the main public chain upgrades. I also got a bit anxious... but thinking about whether to migrate or not doesn’t matter much to me. What I fear most is the appearance of being able to exit at any time, but actually being unable to. For now, I’ll keep watching as an observer.