Someone asked me if, with liquidity so tight right now, I can buy the dip and pick up bargains... I basically said, don't think about "picking," think about "not getting picked." When the market shrinks, slippage can make people laugh, and orders look like paper-thin, when they really crash down, you can't run away at all. Recently, I've been comparing RWA and US Treasury yields to various on-chain "yield products," sounds pretty attractive, but what I care more about is: is that little yield of yours really earned by overdrawing liquidity? Anyway, as a liquidity intern who’s stepping back, with smaller positions and more cash, I’d rather miss the hype than be the last one holding the bag. Survive first, then talk about buying the dip later.