Half-understoodZK

These past few days, watching whale addresses has made my eyes cross, and the community is again arguing whether the extreme funding rate will reverse or continue to inflate the bubble. To put it simply, before copying, think clearly: is he gradually building a position, or is he using spot as a base and hedging with contracts? Many "buys" look like all-in bets, but actually he opens a reverse position a second later to lock in the risk. If you follow, you only learn the surface actions and not his brakes.
I'm not regretting the outcome, but every time I see a large transfer, I get impulsive

Lately, NFT liquidity has been a bit heartbreaking: when the floor price loosens, listings drop like an avalanche, moving down a notch, and the issue of royalties is brought up again for debate... To put it simply, when liquidity is poor, royalties are more like "transaction friction," but without royalties, the community has no money to tell stories, and when the narrative cools down, no one wants to take over, making the cycle quite intractable.
Then I was still a bit behind, watching the comparison between RWA / U.S. Treasury yields. Others are discussing whether "on-chain yields look like

Now it's up to the buyers to see if they can absorb all the pullbacks; once the structure breaks, they will withdraw.

Last night, I reviewed the third DAO proposal, and the more I looked at it, the more I felt that voting isn't just about "everyone expressing their stance." It's more about writing the incentives and how power is distributed. For example, at first glance, it seems like providing some subsidies to contributors, but upon closer inspection of the terms: who can submit proposals, who can receive delegated votes, who signs off on the budget—most of these have already locked in the decision-making power. Recently, new L1/L2 projects have been aggressively offering incentives to attract TVL, and vete

Recently, I looked over the transaction records of a few old NFTs again, and the more I look, the more I think that "liquidity" is more honest than how good the artwork looks: once there's no one to buy the floor, no matter how heated the community narrative is, it’s like playing background music in an empty room... Royalties are also quite awkward; creators obviously want them, but buyers find the slippage + royalties stacking too painful, so everyone prefers to fish around in places where royalties aren’t enforced, and on-chain data looks pretty cold. Conversely, communities with ongoing con