Last night before bed, I checked the on-chain data and suddenly remembered the oracle issue: You think you're watching the prices stay steady, but in reality, the feed is lagging behind, and liquidation might come knocking first... Especially with leveraged positions, on-chain calculations are not based on "the market you see," but on the last price provided by the oracle. When the market is volatile, just a few minutes of delay can completely blow up the health factor. By the time you react and add margin, gas fees are just ridiculously high—it's like the hourglass has run out.

Recently, people compare RWA, US Treasury yields, and on-chain yield products together. Honestly, what I care about most is: whether the underlying price feed is stable and whether the liquidation mechanism has buffers. The returns look attractive, but don’t end up losing out on details like "the quote didn't keep up"... Anyway, I now leave some margin in my positions, preferring to earn a little less and sleep soundly.