Last night at 2 a.m., I was checking blockchain game data and my mood exploded… The pool produced an acceleration, inflation is like opening the floodgates, everyone is “mining, selling,” to put it plainly, it’s not playing a game, it’s stepping on each other. A few days ago it was lively, but now with open interest shrinking, the funding rate is also jumping around, and I got itchy to go into perpetuals again. But then I thought about the last time I lost money, I really took a week to recover. These projects are shouting “ecosystem subsidies” every day, just like the TPS and fee comparison wars with Layer 2: subsidies can lure people in, but they can’t keep them. When the pool is dragged down by output, the first to run are never the “players,” but the more sober arbitrage traders… Anyway, I’ll wait and see, don’t want to impulsively become a liquidity charity again.