custody rails remains the swing factor for narrative durability: reading the LlamaRisk Proposes tape

Ignoring custody rails because miner behavior looks exciting is how late-cycle mistakes compound.

Ignoring drawdown recovery because restaking looks exciting is how late-cycle mistakes compound.

Even when feeds obsess over “LlamaRisk Proposes Borrowing Speed Limits for Aave V3,” the durable question remains process versus prediction.

Cycles rhyme, but the plumbing underneath keeps changing.

None of this is financial advice; it is a framing for cleaner decisions.

Ignoring stablecoins because dollar strength looks exciting is how late-cycle mistakes compound.

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