Recently, someone has been talking about stablecoin de-pegging again, and I’m actually less nervous about it, but I wouldn’t dare say it’s "stable." Honestly, reserve transparency is like trust in the power supply—when everything looks full, but during a run, everyone hits "withdraw" at the same time, and the power drops faster than anyone else. The more on-chain information you can check, the less panicked you feel, but when liquidity suddenly gets stuck, emotions tend to run first.

By the way, looking at the expectations for the testnet points, people in the group are guessing every day whether the mainnet will release tokens or not. I’m a bit worried about this "preloading fantasies" rhythm, which is actually quite similar to a run: once expectations fall short, the stampede comes very quickly. Anyway, I prefer to go slower, diversify my positions, and avoid locking in too tightly so I can withdraw at any time… Let’s see.