These past two days, I’ve been seeing all kinds of “social mining/points/identity” posts everywhere again. In the group, one person after another is showing off their badges and their ranks—if you boil it down, they’re just spending time to trade it for a screenshot. I basically don’t chase it anymore; at most I casually do a few things that can actually leave some value behind. Whether I can get an airdrop is a matter of luck—don’t turn yourself into a task machine.

Especially recently, both spot and derivatives funding rates have been extremely extreme. Everyone’s arguing whether it’s going to reverse or whether the bubble will keep getting squeezed. But instead, I want to put my attention back on the order book and the rhythm of panic: if the price really collapses, limit orders can still get filled; no matter how shiny the badges look, a pullback still hurts.

When I think about it, “identity” is the easiest thing to get carried away with. I’d rather miss a few “points legends” than have it drain me for a whole day. That’s it for now.