Recently, I've seen people claim that RWA on the chain "liquidity appears instantly," and I can't help but laugh... The on-chain transaction volume looks lively, but honestly, many of them are "can buy but can't sell back." The redemption terms specify: T+X days, limit amounts, and the ability to pause in case of anomalies. When you actually want to withdraw, you realize you're just waiting in line. The theft of the cross-chain bridge last week also reminded me that everyone's first reaction when something goes wrong is "wait for confirmation," and RWA is even more assumed to be slow by nature. Anyway, I'm currently watching two things: whether redemptions can be timely, and whether there's really someone backing the assets behind it; if the rules stay the same, I'll try with small positions, and if the rules change, I'll just pretend I didn't see it.