After Cetus was hacked, the total TVL has reached a terrifying $377,288,650,701,667,200🤣. Although it’s not appropriate, it still feels somewhat amusing; I’ve never seen such a high TVL in my life, and it's a historical moment.

Recently, I've also started to return to DeFi projects, such as the Infrared protocol on Berachain, the stablecoin project Ethena, and of course Cetus on the Sui chain.

Since I’m optimistic about Sui’s future prospects, I thought about mining some stablecoin LP on Cetus to secure a basic income. I was still hesitating about how much money to invest, and as a result, the protocol got completely drained today, so I guess I was lucky to escape this time. $CETUS

Thus, the safety of the principal is always a sword of Damocles hanging over all DeFi players. You might just want to safely earn a 10% annual yield, but others are eyeing your principal.

Players forming LP can accept a 20% unrecouped loss to exit, but they absolutely cannot accept the pool being emptied by hackers.

Moreover, this kind of unpredictable systemic risk is very difficult to avoid through prior research and off-market hedging. This is also one of the reasons I have a love-hate relationship with DeFi. All the earnings you make on DeFi projects might not even cover the losses from a single instance of systemic risk.

Wallet security, project research, gameplay research, position control, yield calculation. Achieving results in the DeFi space is far more complex than one might imagine. Newcomers who want to get involved must be prepared to pay tuition fees and must not be careless! (I’ve already paid mine)

In the future, I will also specifically write articles explaining quality opportunities and operational strategies in the DeFi field. Interested friends can like, comment, and follow~