The third time I was dazzled by the APY of the yield aggregator... I clicked in and saw that it's not really "passive income," to be honest, it's just a series of contracts transferring money back and forth, with lending, market making, and even counterparties I don't recognize in between. The larger the number, the more I get scared; after all, if a contract has an issue, it's not that you're slow to react, but that you simply have no qualification to run. Recently, there's been a debate in the group about whether privacy coins and coin mixing count as crossing the line; hearing that, I just feel more at peace: once the regulatory trend shifts, even spending on the chain could be "cut off with a single stroke." Anyway, I'm just a small cat playing with some pocket money, collecting profile pictures as memes, treating the earnings as nonexistent, and sleeping more soundly.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments