Stop-loss is really like a breakup: if you drag it out without dealing with it, there’s always a little window in your mind that keeps screaming an alert. The more you look, the more it makes you feel irritated. A few days ago, I finally admitted it—cut half of my position on that obscure chain, and as a bonus I set both the reminder price and the limit orders. Strangely, the moment I finished setting them, I felt lighter instead: it wasn’t that I was more certain it would go up, but rather, “the worst-case scenario is already written into the rules.” I don’t have to watch the chart every minute.

Recently, everyone keeps comparing RWA, US Treasury yield, and all sorts of on-chain yield products. If I’m being honest, what I care about more now is this: what exactly is propping up the yield you’re getting, and which layer is likely to blow up first if something goes wrong. Anyway, I’ll hand any discipline I can automate over to the tools—people shouldn’t force themselves to carry it. If you stubbornly keep bearing it, in the end you’ll only pay a bit more “interest.”