ZkSketcher

Compared with XLV, FBT is more like a bet on a biotech breakout—you decide whether you want stability or the chance at higher returns.

It’s been ridiculously hot lately. When I’m typing, the fan hums nonstop, and my coffee gets cold twice as fast as usual. I also happened to scroll through the group chat and saw people passing around news about an audit of a certain stablecoin reserve—plus screenshots of “depegging” being circulated back and forth—making everyone’s mood even more restless than the temperature.
To be honest, about this dispute over secondary-market royalties, I actually think it’s something worth cooling down and thinking through. In creator economies, NFT royalties are essentially a “soft promise”: on-chain,

Suddenly felt like chatting about something. Over the past few days, while browsing all kinds of groups, I’ve found that quite a lot of people are really hung up on position management. If you can’t hold spot, and in futures you end up getting liquidated—basically, it’s “two brothers fighting”: fear of missing the move and fear of losing.
My own understanding of what position-management folks mean is basically this: **take the money you can accept losing, split it into several parts, and feed it in one portion at a time—don’t go in with everything at once.** It’s like playing a game: your heal

Just saw a project release new PFPs and membership cards again. Honestly, when I see this kind of thing, my first reaction is to calculate the gas and the opportunity cost 😂. Of course, the brand’s long-term value is worth building—but many projects are really using a membership system to siphon short-term attention. User benefits are written in a very vague way. Only when something really happens (like that cross-chain bridge getting hacked the other day) do they try to use the “wait for confirmation” consensus to suppress panic. In that moment, can the membership card be refunded? No.
My pe

When liquidity dries up, the worst thing is to think, “Others are fearful and I’m greedy,” and then rush in to catch the bottom. I’m basically just sketching things out—my principal isn’t much, and I wouldn’t dare to gamble. The last time I saw the order book depth thin out, I felt uneasy, so I pulled out a bit of my positions first. Living is more important than anything else. Lately there’s been a lot of discussion about concepts like re-staking and shared security—people have been playing with layered returns and getting all kinds of fancy results. But once you stack nested “doll” structure

Just saw a voting proposal, and after thinking it over, I decided not to vote. Not because I’m too lazy to move—I genuinely feel that casting my one vote is no different from throwing it into the sea.
Governance tokens—plainly speaking—are like “ballots” in the crypto world. But look at what’s happening now: most people holding tokens don’t even care about proposals at all. Either they just leave them there gathering dust, or they one-click delegate them to so-called “professional representatives.” The result is that a few whales or institutions hold tens of thousands of votes, and whatever th

Someone asked me whether I should stick to L2 or the mainnet in daily use. After thinking about it, it really depends on the situation. For small interactions—like minting an NFT or doing a swap—L2 gas is indeed great; fast confirmations and you don’t feel the cost. But when it comes to cross-chain transfers or storing a larger position, I end up switching back to the mainnet and paying the extra gas. Recently, people in the group keep sharing screenshots and regulatory rumors about stablecoin depegging, and honestly it’s a bit annoying, but it also reminds me that some security isn’t somethin

I’ve realized that when I get the itch to trade, I’m not really trying to go all-in. It’s really that voice in my head whispering, “What if I miss out?” Plainly put, it’s fear that when I wake up, it’s already gone up and I didn’t get on, or it’s dumped and I didn’t get out. Grid trading and DCA are meant to stop me from worrying so much—just run automatically. Since you can’t outpace market swings with sheer judgment anyway, going all-in is basically betting your sleep on the chart: if it rises, you can’t sleep; if it falls, you can’t sleep either. Lately I’ve been looking at that “restaking”

I just came across a post about sandwich attacks, and only then did I realize that many of the on-chain “arbitrage opportunities” I usually see are actually other people eating your slippage… kind of late to the party.
Before, when I saw how aggressively everyone on the testnet was farming points, I even wondered why so many people were rushing to be “test users”; now that I think about it, they might have been practicing how to sandwich transactions in advance. 😂
Anyway, since I’m a slow starter, I’ll just first map out the concepts clearly. Guessing how tokens will be issued on the mainnet

Just saw an infographic explaining a sandwich attack, and honestly it stung. Usually, when regular users interact on-chain, we feel like we’re in a market game—only to find that behind the scenes, MEV bots are watching the gaps between your orders, quietly jumping the line to skim profits.
Recently during the airdrop season, everyone has been grinding points to fight off sybils; we thought that if we just do more operations and go deeper in interactions, it would be enough. But sorting power—put simply—still comes down to nodes. The gas fees you carefully calculated may end up after some wha

Let’s stop with stop-loss already—honestly, it’s pretty much the same as a breakup. I used to always think, “Hold on a bit longer; maybe it’ll reverse,” but the longer I dragged it out, the more interest kept burning away, and my mindset got wrecked too. Later, I finally got it: admit the loss sooner. That bit of money you save can go do something else instead, and somehow I feel more at ease in my heart.
Why do I get itchy to make a move? At the end of the day, it’s just “a sense of luck”—always thinking I’m one second smarter than the market. Even after I’m already down, I still fantasize th

Recently, I’ve been seeing people in the group chat talk about bundles and block builders, and it feels like a lot of people want to figure it out but think the barrier is high. In fact, I think retail users don’t really need to know the details. Knowing one thing is enough: the transaction you send doesn’t go directly into a block—it first arrives at the mempool, where the builder selects it. They can decide who goes first and who goes later, and they can even sandwich you. So don’t just stare at how much gas you set—occasionally checking whether your transaction got front-run is also importa

Just saw people arguing in a group chat about whether privacy on-chain and compliance are mutually exclusive. I’m increasingly thinking that for ordinary users, what matters most isn’t having ultra-black-box technology—it’s managing expectations: knowing when they’re operating under “transparency,” and when they’re operating under “pseudonyms.”
On privacy, zk rollups alone aren’t enough. For example, in today’s L2s, even though transactions get bundled, the entry and exit data is still visible—people with intent can still trace and match identities. When I was sketching things out, I kept remi

When it comes to wallet security solutions, I’ve been thinking about this lately—whether you should use a hardware wallet, multi-sig, or social recovery really depends on how big your assets are; otherwise, it’ll be nothing but trouble later.
For example, like me—a total amateur—my coins are only enough for a few good meals, so having a decent hardware wallet plus keeping the seed phrase stored safely is enough. Overdoing it can actually make it easier to lose funds. But if you’re the kind of person holding a not-insignificant amount, then I feel like multi-sig is more reliable. At least if so

Just now I saw a post in a discussion thread about on-chain privacy and the boundaries of compliance. Honestly, it really resonated with me. A lot of people jump in right away assuming that everything on-chain is completely anonymous, but after using it a few times you learn that as soon as you’ve interacted with a CEX, or used those tagging systems, your address is basically transparent. As for data tools—sometimes they’re lagging, and address tags can also be misleading, but at least they leave you uneasy: you used a mixer protocol, yet the interaction records still leave traces. In any case

The coffee has gone cold again. Outside the window, the rain keeps tapping away, and just as I’m scrolling through the group chat, I see those same few screenshots of stablecoins “depegging” being reshared—my mood is even more frantic than the rain. Actually, the audit report has already been posted for a long time, but nobody has the patience to read it all the way through. In any case, share it first, and talk later.
Speaking of creator economics, the controversy around secondary-market royalties that’s been going around these past few days is something I’d like to discuss. Originally, royal

Airdrop interactions lately are the real deal—often you throw in gas worth a few thousand U, and in the end you might not even get the minimum guaranteed reward. Personally, I’m not really trusting those “must-do checklists” anymore. Instead, I pay more attention to those strange “signals”—for example, whether the project team is truly fixing bugs, whether the testnet iteration rhythm is stable, and whether there are many technically minded people discussing in the community. Plainly put, those who come in yelling “go for it” are mostly trying to make you the fuel.
When it comes to RWA and on-

刚看到有人聊NFT流动性和版税的事，有点感慨。
I just saw someone talking about NFT liquidity and royalties, and it made me feel a bit emotional.
我也就是个画草图的，不是啥专家。
I’m just someone who sketches—no expert.
地板价跌了，大家就开始怀疑社区的叙事是不是只剩“信仰”了。
When the floor price drops, people start to wonder whether the community’s narrative has only left “faith.”
其实版税在这轮行情里挺尴尬的，项目方收不到钱，炒作的人又嫌贵，流动性反而成了最要紧的事。
In fact, royalties have been pretty awkward in this market cycle: the project teams can’t get paid, and the people doing the hype think it’s too expensive—liquidity ends up being the most important thing.
最近看RWA和美债收益率被放在

Bookkeeping is really a headache every time the year-end comes around. I used to think that keeping a general ledger was enough, and that I could just do the totals at year-end based on buys and sells—until that wave of bridge hacks messed everything up: on-chain records got completely chaotic, exchange statements didn’t match wallet transaction history, and I ended up crying while filling in missing documents. Now I’ve learned my lesson. For every transaction, I store the tx hash, timestamp, and gas fee right away. Even if a cross-chain bridge or oracle reports abnormal pricing, I can still t