Recently, I've come across a bunch of discussions about LST/re-staking again, and it feels like the community noise is more chaotic than radio waves... To put it simply, most of the returns aren't just falling from the sky; either you're taking on extra risk to get subsidies, or you're splitting the same security into parts to sell separately. At first, I thought it was just earning some validation rewards, but then I realized re-staking is more like using your assets as collateral for other protocols. If a chain or an intermediary layer has an issue, the chain reaction can be quite annoying.

By the way, hardware wallets have been out of stock lately, and phishing links are everywhere. People’s security awareness has definitely improved, but it also shows that the more people chase hot topics, the easier it is for someone to take advantage and cut a deal in chaos. Anyway, whenever I see “extra yield,” I first ask: who’s paying, and who’s going to cover the worst-case scenario… That’s all for now.