Just now, I got stuck for three minutes before swapping, staring at the slippage and routing… Actually, I was also thinking about the macro perspective: when interest rates rise, risk-free assets outside become more attractive, and market risk appetite shrinks. The first thing on-chain to feel this is thinner liquidity and insufficient pool depth, so any trade can distort the price. Honestly, my position adjustments aren’t anything complicated; it’s just that when interest rates are high and sentiment is tight, I lighten my positions, preferring to earn less than get hit by slippage or taxes in a shallow pool. Recently, everyone keeps comparing RWA, US bond yields, and on-chain yield products. I think comparisons are fine, but don’t forget that much of the “yield” on-chain is often exchanged for risk and liquidity. If I really want to get in, I’ll first look at the underlying assets, exit speed, and whether the routing will go around to strange new pools… Anyway, just stay alive.