Recently I’ve been looking at yield aggregators again. That APY on the interface looks pretty appealing, but let’s be real: behind the scenes, it’s all about how contracts route around things—where the money ultimately ends up. Add one more layer of “automatic,” and you add one more counterparty: the strategy contract, the router, the liquidator, and even some kind of executor that can cut in line… You think you’re just eating interest, but really you’re betting that the process won’t get stuck and that nobody will skim you. On-chain data tools are also being criticized for label lag or for being able to mislead, but I think that’s normal. No matter how fancy the labels are, they can’t replace a thorough scan of your fund flows and permissions. There are plenty of tutorials—I usually only look at the ones that break down the call chain, permissions, and the failure paths. Don’t tell me a story. In any case, I’d rather have a lower APY and sleep more soundly.

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