Every time there is a big project, the frequency of discussing it with everyone in the group and on Twitter is much higher. I really enjoy the process of constantly analyzing and playing games. In the end, if it's about making money, it's even better. Either tonight at 0:00 or tomorrow's pump will come to an end here. The final profit margin is my hedging cost of 0.0055/0.004, which is about 30%. It's very delicious. There are several points worth summarizing and lessons to be learned 1. There is a lot of controversy before the market, and the atmosphere on Twitter in Chinese and English is completely different. If there is a disagreement, there is an opportunity, so I have always thought that pump will be instant, and it is indeed close to instant; 2. Regarding the issue and timing of hedging premiums, my weakness lies in opening hedging accounts on Binance before I even managed to secure them. Originally, Bybit and on chain contracts were split equally, but I had to hedge half of them in advance. If both were invested, it would result in 2 sets of 1. However, if Bybit had problems, it would result in a 100% hedging account. If there were also problems on chain, I would become naked and lose money. The key point here is that Binance's pre-market contracts have been priced at 0.005% because the reference price is the average transaction price of the past 10 seconds, so short selling has no cost; 3. From a secondary perspective, after the pre-sale of the second light, @ shirleyusy was keen to open more, and @ dotyyds1234 Dragon King also explained on multiple tweets why there was a naked excess. I have indeed been influenced by the choice of hedging price and have not considered the issue of opening more. I have also always felt that I cannot buy too much. In fact, I didn't sleep much that night because the liquidation price was 0.015. I was still a little worried that if it really caused me to explode, it would be a complete failure, and I was always thinking about borrowing money and adding margin. Overall, I will play again next time.