Lending and borrowing, to put it simply, is just a liquidation line watching over you. When you're three steps away from the red line, I usually don't fight myself: first, reduce your position a bit, even if you miss the rebound, that's okay; then simplify the collateral/loan structure, don't stack a bunch of small coins as cushions, liquidity issues become very awkward; finally, write down a contingency plan, and when you're within two steps, just repay some or add margin, don't rely on on-the-spot decisions. No matter how lively the announcement, it can't save a liquidation; don't mistake narrative for fundamentals. Recently, developers are excited talking about modularization and the DeFi layer, but users look confused, I just see it as that… When it comes to risk, it's pretty straightforward: don't let volatility make decisions for you. A colleague said a couple of days ago that "borrowing is stable," I didn't respond, because whether it's stable or not, you first need to keep the red line far enough away.