These days, I've come across a bunch of LST/re-staking "higher yields." I also got curious and looked into it; honestly, the money isn't coming out of nowhere: some of it is from the original validation/staking, some is incentives from protocols to attract TVL, and others are the premiums people are willing to pay for "collateral that can be used again." The problem is pretty much the same: each additional layer increases the risk of something going wrong—contracts, liquidations, de-pegging, liquidity runs... When the market suddenly drops, those who are slow to react start stepping on each other. Recently, meme coins and celebrity shoutouts are hot again, attention shifts so fast—newcomers really shouldn't be the last in a relay race.

My mindset has basically been updated: from "chasing APY" to "considering whether I can sleep through the worst-case scenario." Anyway, I only dare to try with small positions now; the rest I stick honestly in stablecoin pools—earning less but easier to review. That’s all for now.