I’ve always thought of lending and borrowing as a "mirror ball": you’re staring at the liquidation line, but really you’re looking at your own fears. When I’m three steps away from the red line, I usually don’t do any high-risk maneuvers; I start with three small things: check the health/ collateral ratio and on-chain fund flows (to see if it’s overall shrinking), then split up the position, pay off a little if I can, don’t expect to hit the jackpot in one go and pull back to a safe zone; finally, tighten the alerts a bit, don’t rely on “I feel okay.” Honestly, liquidation has never been about price; it’s about you not leaving buffer. Recently, everyone’s talking about modularization, and Layer-0 discussions are flying, developers are excited like it’s New Year’s, users look confused… I think it’s quite like the emotional mirror during a market rebound: the hotter the concept, the more you should check your leverage thermometer. My roommate also asked me, “Aren’t you borrowing money to trade crypto?” I paused for a moment, and could only reply: Forget it, you’re not wrong either.