Lately, looking at the APY of yield aggregators really makes me want to laugh: the page says it's like free money, but behind the scenes, there are several layers of contracts stacked together plus an "opponent," you think you're earning interest, but you're actually betting on who will be the first to have an issue or withdraw. To put it simply, APY is not an interest rate; it's a package of risk, especially those with automatic pool switching and auto-compounding. When the routing is done, slippage and fees sneak through like water leaking in a crack, quietly eating away at your gains.

What's even more annoying is that now with the airdrop season + point system, everyone is competing for rewards like clocking in at work. The task platforms even mess with the anti-witching measures, making you queue, refresh, and retry for ages just to interact... While you're "diligent," the contracts behind the scenes are "diligently" finding the most unstable sources of yield for you. Anyway, when I see high APY now, I first check who they're actually trading with, whether the funds are borrowed out, and if there are any strange permissions. I'd rather earn less than be the last one holding the bag.