Last night, I was watching on-chain transactions and saw that feeling where you clearly click first, but someone else just "cuts in line" and slippage blows up your order... MEV, to put it simply, is about who has the ordering power. Fair or not, let's put that aside. The worst part is that ordinary people have no idea who they're actually competing against. Big players, bots, and those front-runners—who are they eating? Sometimes, it's just that small order of yours that looks insignificant.

Why did I get the itch to chase after it? Psychologically, I just can't accept it, thinking "I can snatch it too," trying to recover that little bit they snatched away, but it usually ends up just fueling someone else's gas fees. Anyway, now I prefer hedging when I trade perpetuals. On-chain, I try not to chase; losing because of the rules feels so frustrating.

By the way, the NFT royalty issue is also quite similar: everyone argues whether creators should get paid, whether secondary sales need liquidity, but in the end, it's still "who can set the rules, who has the say." Watching it, I just think… forget it, I’ll have some coffee first.