Recently, someone asked me again why the APY of yield aggregators looks so attractive... To put it simply, APY is just a front-end number; what's really happening behind the scenes is which contracts the money is being sent to, who the counterparty is, and who holds the permissions. Not understanding these details easily turns into material for "watching others make gains or suffer losses." I prefer to take notes and carefully examine the contracts, rather than getting excited and jumping in when the leaderboard looks good.

By the way, hardware wallets have been out of stock lately, and the phishing links in groups are also ridiculously numerous. During times like these, don’t let high APY set the pace—pause for two seconds before clicking any links; the money is your own.