Recently, I came across high APYs from yield aggregators again, and I got a bit itchy to jump in, but I’ll first check which contracts the money is actually being put into: is it the interest from lending, or is it just incentives to boost the scene? To put it simply, APY is just surface temperature; whether it’s truly hot depends on whether the contract is well-written, who holds the permissions, and who will cover the losses if something goes wrong (the counterparty is the most easily overlooked part). Right now, I’m more like adding firewood: small positions to test the waters, ones that can be withdrawn at any time, gradually increasing, not aiming for explosive growth. By the way, I want to complain that recently everyone has been using ETF capital flows and US stock risk appetite to explain all the rises and falls. Hearing that so much makes me want to shift my focus back to the chain — at least the contracts and fund flows won’t change their tune with emotions. If you want to go all in, remember to first check which pool the money ultimately ends up in.