I once tried taking a position that was originally meant to earn interest passively and using it for re-pledging, thinking "shared security + compounded yields," sounded pretty good.

After watching the market and unlocking rhythm for a few days, I realized that, frankly, it’s just stacking variables: you think you're earning a bit more, but actually you're adding layers of exit difficulty, and when liquidity tightens, everyone starts stepping on each other.
Not to mention that recently some places are increasing taxes and tightening compliance, causing deposit and withdrawal expectations to change.
People’s first reaction isn’t "long-term value," but "can I withdraw first?"
Now I only ask about these kinds of products: when something really goes wrong, where’s your exit route, who will take over, don’t mistake returns for safety.
That’s all for now.