Multiple libraries in design system?

Best practice on how to organise a design system now when we in Figma have Collections, variables and modes etc. Is it still the same need for multiple separated Figma files of different parts of the design system, or is it now better to have everything in one Figma file? (Except for the specific project/product design files of course). If you still separate different parts of your design system, what parts do you usually separate them into? Text styles? Colors? Etc? Any insights or guidance on this would be greatly appreciated.

Thank you for your post! I’m equally curious about how the community is developing design systems. In case you haven’t seen it yet, I would like to share this course with you:

It may be somewhat fundamental, but I hope it serves as an insightful refresher or offers new perspectives.