These days, I've been reviewing again where the returns from LST and re-staking actually come from. To put it simply, there are three main sources: the inflation/fees from staking itself, the "subsidies" provided by external projects, and the premium from using the same security level to do multiple jobs. It sounds appealing, but the risks mostly stem from these three areas: once the subsidies stop, reality hits; if there's an incident with the re-staking layer, it might not just be a "small loss," but could involve confiscation and liquidity being drained; deviations in LST prices and withdrawal queues can also trap you when you need cash. Recently, hardware wallets have been out of stock, and phishing links are everywhere... The more these situations occur, the more I realize that returns are not free. First, keep control of signatures and authorizations, watch carefully, and don't rush.