Last night, I was watching on the chain and realized that some liquidations are not actually because you're wrong about the direction, but because the oracle feed is slow: the price is first hammered out as a spike in a certain pool, and your position still appears "safe" based on the old price. When the feed updates, it directly pushes you outside the safety line, giving you no reaction time. To put it simply, on-chain not only involves price fluctuations but also the fluctuations of "when the quote arrives."

Recently, everyone has been paying attention to the movements of exchange hot and cold wallets and large transfers as signals of smart money. I also watch that, but now I care more about whether, during high volatility, I am using a feed source with unstable update frequency... Anyway, I’d rather earn a little less than be passively hit by a delay. That’s all for now, I won’t add more today.