user retention is underpricing desk risk limits

The loudest story is not always the decisive one.

In that environment, patience is a position, not a slogan.

Put beside current chatter on “Nvidia, Costco and Nike join pushback against OKX,” the incentive problem looks clearer.

The loudest story is not always the decisive one.

Historically, stretches where validator economics leads without support from market makers invite sharper reversals.

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