These past couple of days, I've been looking at the LST and re-staking addresses. On the surface, everything seems calm, but the funds are actually quite good at "changing lanes." The profits, frankly, mainly come from two sources: one is the basic return from staking itself, and the other is the incentives/points given by various protocols to attract TVL. The problem lies here—these points are highly dependent on expectations, especially since the testnet has been rapidly ramping up recently. Everyone is speculating whether the mainnet will issue tokens. The on-chain rhythm of one in, one out, chasing points, feels a bit like gambling on sentiment.

A few days ago, I almost had a mishap myself: I was about to layer and then restake my LST, but when signing, I suddenly noticed the authorization was "unlimited," and the contract wasn't the one I usually use... I reached out my hand to approve, then pulled it back. Thinking about it now, it’s really scary. Now I try to limit the layers, even if it means fewer gains, at least when something goes wrong, I can understand exactly where I got stuck. Anyway, in this market, being able to sleep well is more important than earning that extra bit.