Recently looked at several perpetual/loan liquidation cases, and the more I see, the more uneasy I feel: many people are watching the price line jump, but the real stab comes from the oracle feeding the price. On-chain transactions have already returned, but oracles are still a step behind; the liquidation trigger price feels like "stuck in the old world," your position clearly holds up, but the system still declares you liquidated; conversely, when the market crashes through but the feed price hasn't caught up, you think you're safe, but when it updates, you're wiped out instantly.

So now before opening a position, I make it a point to check: the source of the feed price, update frequency, deviation protections, who has permission to change parameters... Basically, I'm just worried the team might tamper with things in the middle of the night. By the way, I want to complain about the recent testnet points system—everyone's guessing whether the mainnet will issue tokens. I just think: if the feed delay happens then, no matter how many points you have, it won't save the liquidation; better to tighten up leverage first.