I started recording on-chain projects I see that are RWA: it's not about how "lively" the chain looks, but about paying attention to those small print lines in the redemption terms. Frankly, liquidity is often an illusion; the pools match orders quite happily, but when it comes to large redemptions, once the window period, limits, and suspension rights kick in, you realize you're buying a "transferable promise" rather than assets that can be withdrawn at will. Recently, everyone has been complaining about miner/validator income, MEV, and unfair ordering, and I empathize: you think you're queuing in a public market, but in reality, someone cuts in line and even charges a toll. Recording for a long time has at least made me calmer, less hypnotized by the phrase "on-chain transparency," and I prefer to pause two seconds before signing, even if it slows things down.