Everyone arguing over whether NFT royalties should be collected or not made me think of another "invisible fee"—oracle price feed delays. When you open leverage or collateralized loans in a smart contract, the liquidation uses the oracle's fixed price, not the market price you're watching. If the feed is slow by half a beat, and the market price spikes then pulls back, you might have already been liquidated at the "old price"; or conversely, if the price crashes but the feed hasn't caught up, bad debt gets left to the protocol/LPs, and in the end, everyone pays the price. Basically, it's a timing gap that acts like a tax.

My current approach is: when I see increased volatility, I reduce leverage first and leave a thicker buffer, and I also check the oracle update frequency/deviation (don't be too superstitious about "real-time"). Next time, I might just avoid markets with slow price feeds... How do you usually judge whether an oracle is "fast enough"?