Sometimes you think you're being hit by the market, but actually it's the price feeds from the oracles hitting you. When the price feed is slow, the order book is still showing "I can still hold," but on-chain the script has already changed: the collateral ratio is the first to be sentenced to death, and liquidation bots, like mosquitoes smelling blood, come swooping in with a snap.

The most embarrassing situation is when there's a delay plus big volatility, the price has recovered, but your position hasn't. You ask: Didn't I set a warning line? To put it simply, the warning line is based on "the price it gives you," not the price in your mind.

Recently, modular and DeFi layer narrative developers are having a blast, while users are completely confused, and I’m confused too... But liquidation doesn’t require understanding the narrative, the only thing to understand is: don’t live yourself into a liquidity exit. Keep leverage small, leave some buffer, avoid getting liquidated, and just stick to that for now.