These days, I've been checking the APY of yield aggregators again, the numbers look pretty bright, but I feel a bit uneasy inside. To be honest, that string of returns isn't coming out of nowhere; it's either layered contract nesting or lending your money to a counterparty to play around with. When something goes wrong, you might not even know which side you're on. Seeing large on-chain transfers and hot/cold wallet movements on exchanges being labeled as "smart money," my first reaction was also to try to guess the story. But then I thought it's pretty funny—actually, many times they're just moving bricks or rebalancing positions. Anyway, now I look at APY by first checking the contract permissions, whether it can be paused, and where the funds are actually stored, before deciding whether I can sleep well.