Lately, we've been discussing re-staking and shared security again, and everyone's biggest concern is still "whether the yields can be stacked." To put it simply, yields can be compounded, but so can risks, and the most easily compounded illusion is: thinking that repeatedly lending out the same security can still be considered a "stable core position." On the chain, it looks like a smooth chain of authorizations, but if something goes wrong, it becomes a chain reaction that no one can escape from.

Recently, the incentive programs on testnets and the points-earning systems are also quite popular, with people asking every day in the group, "Will the mainnet issue tokens?" I understand, after all, everyone wants something to look forward to, but what I care more about now is: what mechanism does this protocol use to backstop it, who bears responsibility if something goes wrong, and whether the penalty and confiscation logic is clear. Otherwise, in the end, all the points are just a bunch of numbers, and security depends entirely on faith.

Anyway, I’m taking it slow myself; I only participate if I understand it. If I don’t understand, I just pretend I didn’t see it… Never mind, I’ll stop here. Going for a walk by the beach.