Lately I've been getting a bit neurotic about watching lending pools: when it comes to liquidation, many people only look at the collateral ratio, but the real issue is when the oracle feed price gets delayed—that's when things get really ugly. The on-chain price has already tanked, but the feed still shows "yesterday's" price. You think you're safe, but in reality, the liquidation bots are just waiting for that update. Boom, the floodgates open; conversely, if the price recovers but the feed hasn't caught up, you've already been liquidated as a "damn position." Basically, you're gambling with the time lag.

Recently, I've also been talking about rate cut expectations, the US dollar index, and risk assets acting crazy together. What I fear more is that with big volatility, the exchange and on-chain prices diverge, the oracle sampling lags behind, and the liquidation thresholds get secretly shifted. My approach is pretty cautious: keep leverage as low as possible, especially when liquidity is thin—prefer to earn less... Anyway, getting liquidated once messes with your mindset for half a month.