I recently realized I’ve become a bit paranoid: always saying "I only look on-chain," thinking data won't lie to me. As soon as interest rates rise, external capital risk appetite shrinks, and no matter how lively the on-chain market is, it can't hold up, yet I still hold my position stubbornly... To put it simply, macro is like a water tap; when turned on wide, everyone dares to rush in, when turned off, everyone just wants to hold cash and catch their breath.

Now my approach is a bit more conservative: when interest rates / USD are tight, automatically reduce my position, leaving only some "drought-resistant" assets (those that can be withdrawn at any time, without locking in too long), and gradually add more when sentiment warms up again. By the way, I also understand the recent complaints from retail investors about validator income, MEV, and unfair ordering—when the market tightens, everyone’s feeling of "being drained" becomes even stronger... Anyway, I’ll first cut out the friction I can save, so I don’t end up being bitten by bugs while farming. That’s it for now.