When it comes to lending and borrowing, I’m focusing on one thing right now: how many steps away I am from the liquidation line. When it really gets to the point of “three steps from the red line,” I usually don’t worry about whether the market is right or wrong; I lower my expectations first, which actually makes me feel lighter: most likely I’ve misjudged, so I’d rather survive.

Specifically, I do three small things: add a little collateral / make an initial repayment (even if not much, just to create some buffer), then split up my positions so I don’t put everything into one chain or one pool, and finally review the authorization and limits again, in case a last-minute operation gets stuck. Now, the L2s are arguing every day about TPS and subsidies, but I just listen to the noise… The more they argue, the less I dare to put my lifeline on “cheap and fast.” Being able to withdraw or repay at critical moments is more real than anything else. That’s it for now.