With interest rates staying uncertain, risk appetite has been swinging too—honestly, it really affects the way I think with a small position. When the macro tightens and funding costs rise, I have to be more careful with my thin-margin arbitrage, otherwise it’s all just busywork. Anyway, I treat complexity as the enemy—if I can simplify, I will—staying focused on the AMM curves and fee distribution. I don’t go for big gains; I’ll just keep it steady and tally it up.

Lately I’ve been seeing everyone talk about testnet incentives and points expectations, and speculation about whether the mainnet will issue tokens is flying everywhere. I personally think: just run the testnet first to pick up some experience and earn some points. As for whether tokens will be issued or not—who knows. In any case, I’m not betting on it. That’s it for now. Take it slow.