I used to really think that liquidation was just “once the price reaches the line, it gets snapped up immediately,” as punctual as an alarm clock… only to find out that if an oracle’s price feed lags by even a few dozen seconds, your position might already be rotting on-chain: in a DEX, the spot side gets smashed through first, while the lending side still shows “safe,” and once the price feed updates, it jumps straight over the threshold in one go—then the liquidation bot rushes in, eating both slippage and penalties at the same time, with no chance even to add margin.

And lately, haven’t a bunch of AI Agent and automated trading been hyping “fully automated fund management”? To be blunt, if you really want to play this kind of on-chain interaction, first make sure you understand the oracle price source you’re using, the update frequency, and the abnormality protection mechanisms—otherwise you might think you’ve got an intelligent butler, but in reality it could be an intelligent send-you-to-your-doom system… Anyway, before I open leverage now, I check first: what oracle this protocol uses, and what the update conditions are—don’t wait until the moment when “the quote finally catches up to reality” before you wake up.