I reviewed things tonight, and many people getting liquidated actually aren’t “reading the direction wrong.” It’s that the oracle’s peg price is off by about half a step. When you’re running high leverage, the platform calculates your health using the feed price: the on-chain/exchange price has already been pulled away, but the feed price is still stuck at the old level. That’s why your position suddenly looks far more dangerous—once it touches the threshold, the system just lifts it away... To put it plainly, you thought you still had buffer, but that buffer was already eaten up by the delay.

Now when I look at a target, I don’t just watch the volatility—I also take a quick look at: which oracle is being used, roughly how often it updates, and whether there’s a backup source for extreme market conditions. Don’t think it’s too much trouble. When you really hit those minutes of “pinprick,” the delay is a silent knife.

It also made me think of the NFT royalty disputes from the past couple of days—this is the same point. Everyone wants “more flexible/more free,” but once liquidity moves in, certain protections and constraints start to thin out, and then the risks end up popping up from somewhere else. In any case, personally, I’d say: the less certain it is, the less I open; don’t force it with hard leverage. That’s all for now.