Just now I looked at on-chain transactions, clearly placed a market order, but the slippage was a bit more than I expected… Starting to suspect I was “packed” and taken away. To put it simply, retail investors don’t need to study block builders or bundling to the point of giving lectures; knowing three things is enough: First, the “price” you see isn’t necessarily the price at which your order was filled; someone might be inserting transactions into the block in sequence. Second, large and urgent orders are most easily exploited passively; use limit orders when possible, and don’t force trades in pools with low liquidity. Third, for the same transaction, different routing/wallets/private submission methods can have quite different experiences; just pick a convenient one.

Recently, everyone has been comparing RWA, US bond yields, and other on-chain yield products. I find it quite exciting, but the more “interest-like” these things are, the more you shouldn’t ignore the small frictions at the execution layer: fees, slippage, transaction order—these can add up over time and eat into your gains. Anyway, I stick to my approach: first look at retention and fee rates, then slowly pick up the shells.