Lending and borrowing, I now increasingly see it as a game of "three steps away from the red line": before the liquidation step is triggered, there are actually only three things you can do—first, reduce your position to a level you can sleep soundly with; second, move some of your available margin on-chain or on exchanges to places where you can top up at any time; finally, set your acceptable stop-loss/repayment points in advance, don’t rely on quick reflexes at the last moment to win. Frankly, liquidation isn’t the point where you lose the most, it’s when you have the least options.

Recently, everyone has been complaining again about miner/validator income and MEV causing unfair ordering. I also feel strongly: the more these situations occur, the more you shouldn’t rely on “I can top up at the last second” as a plan. When the network stalls or priority fees spike, that might be the difference. Anyway, I’d rather earn less than entrust my fate to how others queue. That’s all for now.