Recently, people are talking again about re-staking and shared security, with yields stacking layer upon layer, looking like a multi-layer cake. Honestly, sometimes it's just an illusion stacked on top of each other. You split the same security into many parts and sell them off; if something minor goes wrong on the blockchain side, the related protocols all shake together, and the correlations are ridiculously high.

My orders are quite pragmatic: if I can save 0.2% on the path, I will; a big slippage immediately makes me wary and suspicious. But when I see these "stacked yields," I become even more cautious, especially when it comes to exiting liquidity—who runs first and who runs later, the difference is more than just a few APYs.

Recently, some places are tightening and loosening taxes and compliance back and forth, making deposit and withdrawal expectations as unpredictable as the weather... In such times, don’t be overly confident in "being able to withdraw at any time." The yields are written on the page, but liquidity and settlement are written in reality. For now, I’ll wait and see for a couple more days.