After spending a long time in the stablecoin financial community, you'll find that participants are roughly divided into three camps. Feel free to see which one you belong to—or which direction you'd like to develop towards.

**Actuaries**

These folks wield Excel spreadsheets as their weapons. Collateralization ratios, liquidation thresholds, slippage costs per transaction, annualized calculations over different periods—all clear to them. They always back up their statements with data, often saying, "Based on historical backtesting, under current volatility, if your collateralization ratio is set at 67.3%, the liquidation risk probability is approximately X%."

Their advantage is obvious: strong risk awareness, no reckless moves. But they also have weaknesses—they tend to fall into over-optimization traps, spending weeks tuning parameters just to earn that extra 0.3% yield. As a result, they often miss macro opportunities that are right in front of them.

**The Aggressive Group**

This group loves to push their collateralization ratios close to the red line of 75%. They only see "maximum possible returns," and risk is completely ignored. Leverage, heavy positions, trying to get multiple benefits at once—they try everything. Their common motto is "What are we afraid of? Bull market! Just do it" or "What’s a little volatility?"

Their advantage? They dare to think and act boldly, and during bullish periods, their gains can make actuaries envious. But the problem is, one black swan event can wipe them out entirely. They often become frequent recipients of liquidation notices.

**The Conservative Camp (which I am also striving to join)**

Treat financial tools as a piece of "digital farmland" to manage. Regularly "cultivate" (execute arbitrage interactions), carefully maintain the "land condition" (manage collateralization ratios), not expecting to get rich overnight, just aiming for stable yields. Profit more in bull markets, protect principal in bear markets—that's the goal.

They neither miss opportunities due to conservatism nor suffer total loss because of recklessness. They keep a steady pace and maintain a good mindset.