I just realized recently that the “infinite allowance” in contracts is pretty much the same as handing a stranger your house keys… Nothing usually happens in normal times, but when something goes wrong, the whole household gets emptied out. Revoking permissions is really like sleeping: you can live without doing it, but you can’t keep staying up forever, betting that you won’t be unlucky.

These past couple of days, the funding rate has gone to an extreme. The group is also arguing—reversal or keep squeezing the bubble? I figured I’d go through the authorizations of my commonly used wallets first: shut off what I can, so why leave them on? Honestly, as a market-making apprentice like me, most of my losses aren’t really because the market is bad, but because I didn’t handle my parameters/permissions properly.

Right now I’m treating it as a “backup” for myself: keep some redundancy as a backup, touch the contracts with the main wallet less, and revoke permissions after you’re done using them… otherwise one day you wake up and realize you’re missing a bit of something, and you won’t even know who to blame. That’s how I’ll do it for now.