#永续合约交易 Seeing Hyperliquid's recent clarification statement and the launch of the new LIT contract, I want to share an observation.

Platform transparency is indeed important, but more crucial is how we view derivatives trading like perpetual contracts. No matter how thorough the technical clarifications are, they can't change a fact—the risks hidden behind 3x leverage are often overshadowed by the exaggerated returns.

I've interacted with many investors who are attracted to contract trading, mostly due to the illusion of "manageable risk." But position management is easier to talk about than to do. When market fluctuations exceed expectations and emotions start to take over, even the most sophisticated mechanisms can't protect your positions.

So my consistent advice is: if you truly want to participate in perpetual contracts, ask yourself three questions first. First, what percentage of my total assets does this trade represent? Second, what is the maximum loss I can tolerate? Third, is this entry based on analysis or FOMO?

In the long run, asset safety and a stable mindset are always more valuable than short-term gains. Choosing a trustworthy platform is just the first step; what's more important is building your own risk control system.