Should retail investors understand blockchain builders and bundles? To put it simply, just understanding that "the transaction you see isn't necessarily the price you clicked" is enough. Don't see yourself as a researcher; knowing that there are groups of people who can bundle trades, cut in line, and change the order—when you're chasing gains or cutting losses, slippage increases, and you get squeezed inexplicably—this isn't all just due to your shaky hands. What you can do is simple: use smaller liquidity pools, avoid trading in hot moments, and use protected orders when possible. The rest, no matter how much you study, will be hard to compete with them.

Recently, someone compared RWA and U.S. Treasury yields with on-chain yield products. It looks quite "stable," but think carefully first: the on-chain yields are often just a matter of competing over order priority, liquidity, and risk pricing, not just slapping a government bond label and automatically turning it into a deposit.

I'm not regretful about the outcome, but about not calculating impermanent loss and the cost of being squeezed before starting to talk about faith... Now I've learned my lesson: first do the math, put emotions aside.