These past two days, I’ve been seeing a bunch of discussions about re-staking and sharing security again. Basically, it’s “splitting up the same sense of security and selling it a few more times.” Stacked returns sound pretty tempting, but don’t stack the illusion on top of that too: the underlying risks haven’t disappeared—they’ve just been packaged more smoothly. Especially for someone like me who acts on impulse; once I see something event-driven, I want to rush in. But after I look closely at the terms, slash conditions, exit periods… my mind cools down instantly.

Now they’re comparing TPS, comparing fees, and comparing ecosystem subsidies—bickering like it’s a contest. In the end, it still comes down to who can explain security and liquidity clearly; otherwise, if subsidies stop, everyone will run faster than anyone else. Anyway, for myself right now, I’d rather earn a little less than tie all these highly correlated things together and go to sleep.

I still believe this: in the long run, someone will always take security seriously—not just draw up the profit-and-loss sheet.