Recently, someone asked me again where the LST/re-staking yields come from.

Basically, it's like breaking down the "security/consensus" aspect into several layers and selling them again: the inflation and tips from the underlying staking are one part, and then using the same collateral to endorse other services, with the extra returns coming from new business fees or subsidies.
It sounds pretty attractive, but the risks are quite straightforward: one layer for smart contracts, one for operations/penalties, one for liquidity discount, and in extreme cases, there could be highly correlated chain reactions of failures.
Those who have experienced rollbacks and block freezes instinctively ask: what ultimately backs the "extra gains"?
I see it as a mix of credit card installment plans and stacking games—when everything's stable, it's all good; once things go awry, everyone looks for an exit.
By the way, I’ve also been skeptical about the recent social mining and fan token models that claim "attention is mining": attention comes quickly but leaves even faster, and the confirmation count definitely won't give you a boost.
Anyway, right now I care more about exit strategies—whether I make money or not is another matter; just don't get stuck.