Last night, I had a late-night snack while watching the funding fee rate. Seeing those kinds of extreme values, people started arguing again about “a reversal or continued bubble-squeezing,” and my hand felt a little itchy… to put it plainly, I’m afraid of missing out. The more everyone’s emotions are cranked up, the more I want to jump in and prove that I’m still alive. Then I kept scrolling and saw the same LST / re-staking setup again—on the surface, the returns sound pretty tempting, but when you think about it, there’s no magic: part of it is rewards the consensus layer already gives, and the other part is more like “selling you that sense of security again.” Someone pays to rent out your guarantee, and you get the money.

The risks are basically the same: once the chain is longer, there are more protocols, and if you run into de-pegging / penalties / contract issues, it might not be just losing a bit of interest—it could even come with losing your principal entirely, too. Anyway, right now I’m more like watching its discount and redemption routes. If I really end up rushing in, it’ll just be a small position—late-night snack money—and I’ll revise my plan after I wake up tomorrow… same old habit.