Last night I got stupid again myself—opened a bit of leverage and thought, “Just watch the line, don’t be greedy.” But the oracle’s price feed lagged by a bit, and the on-chain price had already dropped. It was still stuck on the old number; once it updated… the liquidation came down like a finishing blow. Plainly speaking, it wasn’t that I wasn’t decisive about cutting losses—it was that I thought the price I was seeing was the “make-or-break” price that could save me. Turns out, for settlement they look at the “official delayed price” that gets fed in, not the one I see. Later, when I reviewed that delay of a few seconds, I realized that during high volatility it’s even more brutal than slippage.

Now when I see everyone farming testing net points and guessing whether the mainnet will issue tokens, I can’t help laughing a little but also feel a bit panicked: once the mainnet goes live and there’s congestion, if the price feed/update gets even slower, it really isn’t clear who will get liquidated first. Anyway, I lowered my leverage first and sighed—just saving up my worries.