The third time being asked, where does the profit from LST/re-staking come from... My current understanding is quite basic: part of it is the consensus rewards from basic staking, which is like the "original flavor" of coffee beans; the re-staking layer is more like using the same collateral to provide guarantees for other services, where others pay you service fees/incentives, and the profits stack up. But the risks also stack up: a penalty or confiscation on the underlying chain is a single blow; if the upper-layer service encounters issues/malfeasance/penalties, that's another blow; plus the middle layer of contracts, oracles, bridges, custodians—if any layer breaks, it might be unrecoverable. Recently, there's been talk about increased taxes and tighter compliance, with expectations for deposits and withdrawals becoming more restrictive, so everyone prefers to chase "seemingly stable returns," which makes it easier to overlook these tail-end risks... I personally prefer low leverage and smaller positions, because being able to sleep peacefully is more important than a few extra points.