Recently, someone has been linking ETF capital flows, S&P sentiment, and cryptocurrency market fluctuations together for interpretation, which has made me a bit tired... Of course, macro factors influence it, but the on-chain main thread is actually more "useful": after the money comes in, how transactions are queued and how long it takes to truly settle.

To put it simply, data availability is like library borrowing records: you first need to confirm that the ledger is truly public and accessible to everyone, otherwise the "returns" you see might just be written in the backend. Sorting is about who gets processed first and who jumps the queue; don’t get overwhelmed by MEV—just understand it as "someone can front-run you." The ultimate certainty is simpler: when can this record no longer be changed? Anyway, when I look at pools/chains now, no matter how attractive the APY looks, I first ask these three questions to feel more at ease.