Last night, I educated myself again... I wanted to make a small move on-chain, but as soon as I entered the position, I realized the execution price was worse than expected. Looking back, it was actually pretty stupid: I set the slippage too wide, thinking "as long as it executes, it's fine," but the pool depth wasn't enough, and sweeping in all at once pushed me into a worse tier; what's even more deadly is the order pacing—I split the order into two parts and chased the price, effectively raising my own cost.

Later, I looked back at the records and saw that the trading volume had already started thinning out a few minutes earlier, yet I still forced the trade. To put it simply, on-chain isn't an order book; seeing a quote doesn't mean you can execute at that price. First, check the depth, then decide whether to split the order or wait—this is really more important than being "quick on the draw."

Recently, everyone has been comparing RWA and U.S. Treasury yields to on-chain yield products. I can understand the anxiety, but especially in times like these, these trading details are more easily overlooked... First, control the slippage and pacing, or all discussions about returns become meaningless. I also need to add some protections against MEV (like sandwich attacks or frontrunning). That's all for now.