Last night, I was digging through the drawer looking for a charger, and I casually looked over the LST/re-staking I have. To be honest, the returns aren’t that impressive: part of it is staked to the underlying, another part is people willing to pay for "security/endorsement," plus some liquidity incentives to make up the difference. The risks are quite real: the underlying could be confiscated, the re-staking contract could have issues, and there’s the discount during liquidity squeezes—if extreme situations happen, don’t expect it to be "stable." Recently, before and after the main public chain upgrade and maintenance, everyone in the group has been guessing whether projects will migrate, but I’m more concerned about whether the validator rules have changed and if penalties are harsher... Anyway, I prefer to take it slow with low frequency, earn a bit less, but sleep peacefully.