Yesterday, I was looking at a lending protocol's liquidation records when I suddenly realized: many people think they are over-leveraged, but sometimes it's the oracle price feed that is lagging behind by half a beat. The price is really dropping, but the on-chain quote hasn't caught up yet, so your position looks "okay," until the feed updates and it jumps straight from the safe zone to the liquidation line, leaving no time to even react and add margin... Basically, it's a delay that compresses volatility into a single blow.

These past couple of days, I've also been discussing the expectations of interest rate cuts and the kind of synchronized rise and fall of the US dollar index and risk assets, which makes sudden surges and drops more common. The frequency of price updates and the tolerance range for errors become even more critical. My current approach is pretty crude: I prefer less leverage, choose protocols with more stable and more frequently updated oracle sources, and if I really have to withstand volatility, I plan for the "worst-case jump" as something that could happen in advance. Anyway, when the fog is thick, just slow down.