Recently, the cause of liquidations is often not that you opened too many long or short positions, but that the "price feed" was a half beat slow. Oracle quote delays = your position is actually being calculated with outdated prices; when the market moves sharply, the on-chain data hasn't updated yet, and you think it's still safe. When the price feed finally updates, it triggers a sudden cliff-like liquidation, and even quick margin replenishment doesn't help. As a product developer, I habitually think of it as a process: market changes first → oracle updates → contract assesses risk → triggers liquidation. Any delay in this chain makes the "operational window" you see actually a false illusion.

By the way, I recently saw a heated debate about NFT royalties, which is basically a tug-of-war between "settlement rules" and "liquidity": the more complex the rules, the more they want to protect creators, but the trading experience worsens, and liquidity flows away. The same logic applies to liquidations—delays and protective mechanisms ultimately come down to user experience: even when they haven't done anything wrong, why does the system seem to punish them? Anyway, I now pay more attention to what price feed source I use, how often it updates, and the protective logic during extreme volatility, rather than just focusing on leverage.