Recently, I've been looking at the shared security of re-pledging again. The compounded returns are indeed attractive, but honestly, don't mistake "an extra layer of returns" for "an extra layer of certainty"... The risks are also compounded; you just can't see them. Especially when I see someone throwing their entire position into it, I get a half-beat faster heartbeat for them.

Social mining, fan tokens—those are quite similar too. "Attention is mining" sounds exciting, but attention is too fleeting. Today's trending topic might sink tomorrow, and in the end, what you mine could just be emotional fluctuations. Anyway, my current approach is pretty simple: first, keep the principal stable, then try with a small position. If I feel something's off, I go back to the old routine of rebalancing.

There are many tutorials, but I actually prefer those that clearly explain the worst-case scenarios, how to get liquidated, or how to be penalized and confiscated. The less passionate, the more reliable. For now, that's it. After I finish my K-song, I'll take another look at the curve.