Lately I've been looking at the APYs of a few yield aggregators again, and when the numbers get big, it's easy to get tempted. But honestly, that's not "interest falling from the sky"; behind it are contracts and counterparties supporting it. When you click to deposit, you might actually go through: first swapping your tokens, then throwing them into someone else's pool, and then automatically selling rewards to reinvest... If any part of this process is poorly coded, has excessive permissions, or if the underlying pool has bad debt or gets liquidated, what you get isn't just returns, but also a bunch of risks you're unaware of.

Recently, everyone keeps talking about staking unlocks and token unlock schedules causing selling pressure. I'm actually more concerned about whether the aggregator's yields are sustained by "subsidies + selling pressure." When unlocks happen, rewards shrink, and the strategy might shift from "making some profit" to "just keeping up."

My current approach is pretty simple: I prefer lower APYs but want to understand the routing, fund flow, and admin permissions clearly... Tonight, I’ll review the permissions of my two commonly used strategy contracts again, and conveniently revoke any unnecessary authorizations. That’s how I’ll start.