Lately, I was startled again by the de-pegging of stablecoins. They all claim "1:1," but when a run happens, everyone runs faster than anyone... Frankly, transparency of reserves is like air in normal times, only when something goes wrong do you realize it's a lifeline. On-chain, looking at a bunch of reports seems quite comprehensive, but I, as an impulsive type, still imagine: what if everyone hits the redemption button at the same time?

By the way, Layer 2 is still arguing over TPS, fees, and ecosystem subsidies, arguing like they're fighting over the second half-price cup of milk tea... But if I had to choose, I care more about whether I can smoothly convert back when something happens, rather than seeing Gas prices spike or slippage hit, turning my "stability" into "stability with losses." Anyway, I plan to hold less all-in, keep some cash-like assets, so I don't have to stay up until dawn reviewing my positions.