Last night I checked out a few projects on RWA blockchain, the liquidity on the page looked quite lively, but I now have a bit of a "see the depth and want to click on the terms" problem... To put it simply, being able to sell on-chain at any time ≠ the underlying assets being redeemable at any time. The key points are the redemption window, queuing, fees, and even "extreme case suspension"—without these, it's just an illusion of liquidity.

Recently, there's been a bunch of testnet incentives + token expectations, and everyone in the group keeps asking if the mainnet will issue tokens. I understand this itch, but if what everyone is after is just points, and no one is paying attention to the actual redemption mechanism, then the risk becomes quite awkward.

My definition of "long-term" isn't very grand either, probably about a quarter—enough to go through a full subscription-interest-redemption process once, without any surprises, then we can talk about long-term holding... Let's start with that.