Lately, analyzing on-chain data has once again been met with laughter from MEV: you think you're submitting a "transaction," but you're actually lining up to buy tickets, with a bunch of others (robots) using arbitrage permissions to cut in line. The biggest victims aren't whales, but rather small investors like us who don't set aggressive slippage; we’re willing to trade at market price, but a quick squeeze turns it into paying someone else's fee.

To put it simply, "fairness" on the blockchain often equals "who's better at queuing or ordering transactions." I talk about high APY, but now my strategy always starts with exit conditions: if I find a pool being squeezed excessively, I’d rather earn less than be a mere background player in liquidity.

On the macro side, it’s also quite surreal—when expectations of rate cuts shift, the dollar index and risk assets move together, up and down in unison. Yet, the arbitrage bots on-chain still make money regardless... I don’t need to be understood, but my boundary is: I can bet on market direction, but I don’t want to gamble my life on the ordering system. That’s all for now.