$COIN has broken below the weekly prior low, seemingly triggering a selling climax. The tail risk of exchanges "going to zero overnight" may be repricing, with COIN becoming the epicenter of tonight’s FUD. But I believe the fundamentals remain unchanged—I’m opting to sell puts to accumulate. https://t.co/ZLYhgODvYe

Rather than obsessing over hardware versus software wallets, prioritizing the backup and storage of your mnemonic phrase is far more important. More often than not, wallets aren’t stolen—they’re simply lost by their owners. Here are several approaches, ordered by increasing asset size: 1. Multiple Apple devices: For modest holdings, a mainstream software wallet combined with multiple Apple devices—and maintaining good security habits—is sufficient. The key is to avoid losing them all at once. 2. Memory alone: Personally, I recommend this: memorize your 12-word mnemonic and periodically recall and test the recovery process. It’s mentally taxing, though; most people are lucky to remember one or two phrases for life. 3. Encrypted backups across multiple 1Password accounts: Split and encrypt your mnemonic phrase, storing each fragment securely in separate 1Password accounts. But this introduces the challenge of securing 1Password itself—especially if you use Passkeys—since losing your device also means you must recover your account. 4. Bank safety deposit boxes: Split and securely store your mnemonic phrase across safety deposit boxes in different geographic regions. Recovery is reliable, but this method is costly, cumbersome, and highly ceremonial. No solution is perfect—humans make mistakes. Choose the method that suits you best and feels comfortable to use consistently.

I’ve never heard of this attack vector before—proof that hackers’ methods never go out of style.

The case mentioned by Da Dao is essentially a mindset of "using options leverage for yield farming." In the context of DeFi, this is very similar to the popular LP farming strategies seen recently. For example, with Uniswap V3/V4 LP: you provide liquidity within a specific price range and continuously earn trading fees. Further, if you collateralize your LP NFT to borrow funds and then use those borrowed funds to create more LP positions, you are effectively applying leverage to your LP farming. In traditional finance, selling options strategies within a Portfolio Margin account operate in a nearly identical way: leveraging margin efficiency to amplify positions while continuously collecting option premiums. LP NFT → Collateralize → Borrow → Re-invest in LP Portfolio Margin → Utilize margin → Sell options → Collect ongoing income The underlying logic is nearly identical: both aim to maximize capital efficiency to generate higher, continuous cash flow, while accepting convex, nonlinear tail risks. In normal market conditions, this strategy feels very comfortable—you’re collecting “rent” daily, and yields can be highly attractive. But the real danger lies in tail risk. When events like the 2020 COVID crash or a hypothetical 2025 trade war shock occur, positions carrying high leverage that aren’t promptly reduced or hedged can be wiped out in a single extreme market move. Yield farming feels great—until a market crash turns it into a funeral pyre. Therefore, whether in DeFi LP farming or traditional finance options farming: What truly determines whether you survive long-term isn’t how much you earn during normal times—it’s whether you survive when extreme markets hit.

As a LP, you need to distinguish between three types of APR yields: • Average APR: The yield level across the entire pool, used to screen and compare pools, and reflects how competitive fee income is relative to capital supply. • Maximum APR: The yield intensity within the narrowest price range. Particularly useful for stablecoin pairs; for subsidized pools, also consider the incentive coverage range and distribution rules. • Expected APR: The estimated yield based on your selected price range, used to compare range allocations and more relevant for specific positions. Use average APR to choose pools, maximum APR to assess capital efficiency, and expected APR to set your range. None of these equal your final net return. Whether high APR translates into actual profits depends on out-of-range time, impermanent loss, and rebalancing costs. Reference: https://t.co/fKYr4AL9kB

I heard the bulls are back—this time, I’ll make sure to learn from my mistakes.

In a sales context, it's hard to get attention without being a bit bold.

Recently used $SPCX as a case study for learning options, sold some short positions I thought had sufficient margin of safety, but the current IV still makes me uneasy—I’m just sitting back waiting to see what happens, and the upcoming bull-bear battle should be quite exciting.

These proposals address symptoms, not root causes. The current priority should be on ecosystem applications to ignite E-token burning and enable the protocol to capture more value. Reducing yields for stakers (most of whom are holders) has little benefit and could backfire. If better alternatives emerge, staking ratios will naturally decline.

The IV for $SPCX on the 8.7 strike seems unrealistically high; selling the 300 call still generates profit.