Feeling like there are “three steps” left before the lending position reaches the liquidation line is actually pretty torturous. My approach is generally not to stubbornly hold on: first, gradually reduce the leverage, even if it’s only a partial repayment, so the health factor returns to a range where you can actually sleep; then, replace the most volatile part of your collateral with something more stable—don’t count on luck to get you through; finally, write out the reminders and contingency plans clearly—when you’re really close to the line, cut according to the plan, not by wrestling with your emotions.

Recently, social mining and fan tokens are hot again, and people are saying “attention is mining”—it sounds pretty exciting, but what I’m more afraid of is letting myself be led around by attention, watching my position become more and more tempting. Anyway, when it comes to liquidation, no one is going to show leniency just because you posted some kind of update/dynamic—so first, keep the red line at a distance.