Recently, I saw someone compare the APY of yield aggregators with RWA, and even U.S. Treasury yields... It made me a bit uneasy. Yield aggregators, simply put, are just putting your money into a bunch of contracts that keep turning over, with the surface being "auto-compounding," but behind the scenes are questions about contract permissions, whether strategies can be changed at any time, and who is actually trusted in the middle. A higher APY doesn't necessarily mean more "stable"; it might just hide the risk more deeply.

Forget it, to put it plainly: you think you're earning interest, but you're actually betting on "the contract not breaking + the admin not slipping up + the counterparty not exploding." I usually first check if I can withdraw at any time, whether the permissions are multi-signature, who holds the upgrade switch, and if the source link is wrong, I treat it as a cockroach... That's how I start.