Just realized how stupid I was: I wanted to copy a small pullback, but a market order sent me out immediately. Basically, I didn’t look at the depth, the order book was as thin as paper, and I set the slippage too wide, eating through layer after layer, with the average transaction price way off from my expectations.

Looking back, the biggest mistake was the rhythm: seeing it go up made me anxious, and I panicked and went all in. Actually, splitting it into several smaller orders, using small orders to probe liquidity first, and then deciding whether to chase would be much more comfortable. Now, the L2s are arguing every day about TPS, fees, and subsidies. I find it quite lively, but that trade really isn’t something slogans can save; whether the pool is deep or not, and how you place your order, are the real costs. Anyway, I’d rather go slower in the future than keep paying tuition for slippage.