Recently, I looked into the RWA on-chain setup, and it feels like pouring tea into a beautiful cup—looks very smooth on the surface, but you won't know if it's hot until you take a sip. Sometimes, on-chain liquidity is just an illusion of "many people lining up," because once you flip the redemption terms—oh, T+ days, limits, window periods, and even "suspension in special cases"—it all boils down to you buying emotion, not cash that can be withdrawn at any time.

Some people hype social mining and fan tokens as attention mining... I just find it a bit funny. Attention is indeed valuable, but being valuable doesn't mean you can sell it at any time. Ultimately, it comes down to who takes over and how to exit.

I personally don't think "long-term" is that grand—about a quarter, maybe. If I can hold a position for over three months without wanting to cut, then I consider it serious. Anyway, I’ll first finish reading the redemption page, then talk about faith.