Recently, I've seen a bunch of LST/re-staking strategies again. To be honest, the returns aren't just falling from the sky: some come from the inflation/fees of staking itself, and a lot of it is “people willing to pay for your sense of security,” such as protocol incentives, project buy-ins for security, or even packaging risks more elaborately. It looks pretty attractive, but my mind automatically pops up a sentence: where the money comes from, it might also be where problems start.

The risks are also very straightforward: you originally only staked one layer, now it's like staking several layers, and the contract, operations, governance, liquidation, and even the intermediaries could all fail. Recently, when cross-chain bridges get hacked, everyone immediately starts “waiting for confirmation”… The same goes for oracles that suddenly give erratic quotes; even if the chain is fast, people's hands will still pause for a moment.

I'm now taking a more laid-back approach: if gas fees are high, I just pretend I didn't see; if gas is cheap, I take a quick look. Only engage with what I understand a little, and don’t treat “extra layer of returns” as a free lunch. Anyway, prioritizing the cost of happiness.