These days, I've been seeing everyone arguing about whether the expectations for interest rate cuts and the US dollar index are moving in the same direction as risk assets... I just take it as background noise for now. What really makes me a bit nervous is the cross-chain aspect. Whether it's IBC or various message passing protocols, honestly, you're trusting more than one chain: you need to trust the light client/validation set of the main chain, trust the consensus of the other chain, trust that relayers/relays won't go offline or act maliciously, trust that the protocol implementation doesn't have strange bugs; and if you layer on multi-signature wallets/oracles/guardians through bridges, the trust surface becomes even larger.

Before I do cross-chain transactions now, I first ask myself: who is actually "endorsing" me this time? If something goes wrong, can I accept it? I still believe in the IBC approach, but if I have to move assets frequently, I get a bit hesitant—once I mint, I might just shut down the software.