Recently I've seen comparisons between RWA and U.S. Treasury yields, as well as on-chain "yield products," which makes me a bit uneasy. Essentially, putting RWA on the chain can easily create the illusion of "high liquidity": looking at order books and TVL seems lively, but when you actually want to redeem, you'll find a bunch of clauses like lock-up periods, quota limits, and switches to pause redemptions—making it clear that it's not something you can cash out at any time.

Now I’ve written a note to myself: before buying, understand how the redemption process works, how long it might take to get your money at worst, and who can hit the pause button. Otherwise, treat it as a fixed-term investment. It’s like an ATM but also like a queue window—you think you just insert your card and get cash, but there’s a string of rules waiting in front of you. Anyway, I don’t dare to take on too much short-term risk; I’d rather earn less than be unable to stop losses when the time comes. That’s it for now.