Lately I've been digging into the pitfalls of re-pledging/sharing security again, and the more I look, the more I feel: yields can be compounded, but so can risks. Don't let it end up as "I thought." Basically, splitting the same security into multiple collateral places—if one part fails someday, the chain reaction happens faster than you imagine... What's funny is that everyone talks about APY as if opening a blind box, but what's frustrating is that many pitfalls are actually tucked away in the corners, just too lazy to read.

Another little aside: seeing the on-chain data tools and tagging systems being criticized for being laggy or even misleading, I’ve become more cautious. When tags change, the narrative shifts accordingly, making it look like we're watching "the delayed truth." Anyway, I now prefer to earn a little less and spend more time understanding the liquidation/exit mechanisms clearly. Take it slow—don't get so caught up in folding paper that it collapses outright.