Recently, someone showed me a yield aggregator, claiming an APY that sounds like it's free... Basically, that's not "yield," it's "you're helping test the contract + betting on counterparties not to cause trouble."

The most I watch when monitoring the market is: a slippage on entry and exit, with the profit eaten up first; then layering on routing, approvals, and staking again, and when something goes wrong, you can't even tell which contract you're stuck in.

And some aggregators are essentially just throwing your money into other protocols as liquidity, sounding decentralized but actually tying all the risks together: if a black swan event hits upstream, your APY immediately turns into a "compensation experience coupon."
I usually check which contracts they call, whether they are upgradeable, and who holds the permissions. If not, I’d rather break it down and do it myself—less yield but peace of mind.

By the way, the recent arguments about privacy coins/mixers are quite similar: one says privacy is a right, another says compliance is the bottom line...
Honestly, I only care about the boundary tightening—who ends up taking the final risk in the process if things get stricter.

As for "long-term," I don’t do sentimentality—long-term means surviving one quarter without liquidation, rug pull, or withdrawal issues. That’s already pretty good.
Let’s leave it at that.