Just swept through the on-chain liquidation data and found that many large holders only get panicked to top up collateral in the first three steps before they cross the borrowing risk line; some even just lie down and wait for liquidation. Honestly, I’ve had something similar myself—back then, trying to save a bit on interest, I almost got swept away to ride the slide.

My approach now is: set an alert line, and when there are 30% liquidation-rate headroom remaining, start moving positions and topping up USDC—don’t wait until it’s down to 10% and then scramble. After all, the on-chain counterparties are transparent contracts, not “friends” you can cut some slack to in a chat window.

Recently, I’ve been watching a new L2 roll out incentives to attract TVL. Old users farm while selling, and the vibe is a bit awkward. Anyway, even if I’m tempted by those high APY numbers, I won’t go rushing into leveraged positions—I'd rather keep squatting and watching the on-chain abnormal data. From a long-term perspective, the ones who survive aren’t the fastest runners, but the ones who still have enough spare to add to their positions when drawdowns hit.