Lately, when looking at re-pledge/share security, my mind feels like it's doing a version update: v1 thinks "Wow, security can still be reused, and I can earn more income at the same time"; v2 starts to feel something's off, as stacking yields easily also stacks the "risk," it's just that there's no pop-up window in the interface. To put it simply, many times what you get isn't extra income, but an additional layer of "if something goes wrong, who gets hit first" order.

In the past couple of days, when the funding rate hit an extreme, people in the group were arguing whether to reverse or continue squeezing the bubble. I instead want to downgrade myself to a conservative mode: if I don't understand it, I do less; only invest when I can clearly explain where the money comes from and where the losses come from. Anyway, I’d rather earn less than rely on illusions to reach annualized returns. That’s all for now.