That was really shocking just now. I accidentally copied the USDC address that should have been transferred to the cold wallet, and only realized after clicking send that the first and last characters were wrong… Luckily, the wallet popped up a “New Address Risk Warning,” so I quickly canceled and redid it. Honestly, these small mistakes remind me most of this: no matter how grand the narrative, it all ultimately comes down to the “where’s the exit and who’s taking the loss” kind of mundane details.

Recently, the secondary market royalties have been quite a hot topic; platforms want to lower them, buyers think they’re too expensive, and creators are afraid of being exploited for free. I actually understand all sides, but what I care more about is: are royalties “voluntary tips,” or are they taxes forcibly deducted within the transaction system? If they’re forced, people will find ways to bypass; if they’re voluntary, it tests whether the community truly supports or just pays lip service.

Some people are comparing RWA, U.S. Treasury yields, and on-chain yield products all together, and I find that a bit theatrical… The “returns” on-chain are often not really returns, but liquidity subsidies plus sentiment premiums. Anyway, I see the creator economy the same way now: first, see if the mechanism can hold up in a bear market, then see if the rhetoric sounds good. That’s how I’ll approach it for now.