Recently looking at a bunch of RWA on-chain projects, the liquidity on the interface looks pretty decent, and the on-chain pools are quite lively, but what I care more about is: when it comes to redemption, what terms are actually followed? Are there T+N, limits, KYC, or even words like "pauseable in special circumstances"? To put it simply, being able to sell on-chain doesn't mean you can cash out off-chain; sometimes liquidity is just an illusion.

Thinking about how recently the staking/sharing security model of "yield stacking" has been criticized as a copycat, I also resonate a bit: everyone is stacking, but if the bottom exit point gets stuck, all the spending above is pointless. I admit I feel a bit envious when I see others posting high yields… but now I’d rather go slower, only do actions I can verify: first, understand the redemption terms clearly, write the worst-case scenarios into a table, or I really won’t sleep.