Recently looking at LST and re-staking, the more I analyze, the more it seems like splitting "returns" into several channels: one is the inflation/fees from basic staking, and the rest are actually "rent" paid by new projects to attract security + emotional premiums. To put it simply, money doesn't grow out of thin air; someone is paying for it, or it's an early withdrawal of future expectations. The risks are similar: de-pegging, contract/operation issues, re-staking stacking leading to a surge in correlation. It looks quite stable normally, but when a run occurs, everything shakes together. Modularization and the development of the DA layer are now hot topics among developers, while users are often confused. I, on the other hand, am more cautious... Instead of talking about fate, let's talk about probability: high returns correspond to a wider tail, and whether you can withstand it is what really matters.