Recently, I saw a bunch of yield aggregator APYs that look pretty good. To be honest, it's not like money falling from the sky; it’s more like you’re being pushed into a series of contracts that keep moving around: routing, authorization, re-staking... If any step goes wrong, ultimately, you’re the one holding the bag. The counterparty isn’t necessarily a “bad actor,” but once liquidity is withdrawn or a liquidation is triggered, you’ll realize you’re holding an empty check filled with terms.

Especially these days, with certain places changing tax or compliance policies, everyone’s expectations for deposits and withdrawals are tightening. When emotions tighten, on-chain runs become more likely. Anyway, I’m just a small retail investor. When I see high APYs, I first ask myself: who am I really trusting, what am I signing, what’s the worst that could happen… then decide whether to reach out.