When it comes to lending and borrowing, I usually don’t stay calm when the liquidation line is three steps away from the red line: I treat the position as if it could be disconnected at any moment. If I can add some margin, I do, but not all at once; more often, I just reduce some leverage / pay back part of it, switching to a healthier level where I can sleep peacefully. After watching the blockchain for so long, the worst isn’t a slow decline, but a sudden spike caused by a needle + gas, with liquidation bots lining up to jump in. You think there’s still time, but in reality, the script has already been written in the mempool.

By the way, recently everyone’s been criticizing validators for eating MEV and unfair ordering, and I can only say… it really feels like “you’re in line, and they’re cutting in front.” So I just turned off the auto-leverage switch. I’d rather earn a little less than entrust my fate to others’ ordering. That’s all for now.