Looking at the APY of yield aggregators for a long time, it really starts to feel like staring at noise outside the daily chart… The numbers look pretty, but what’s really behind it are which contracts are moving around, who is holding the assets, and whether the risks are packaged more covertly. Honestly, that’s the key. Aggregators help you “save effort,” but they can also distance you further from the real counterparties, and when something goes wrong, you might not even know which layer to blame. Recently, with social mining and fan tokens—those “attention is mining” schemes—I also feel like it’s just risk wearing a different skin: the excitement is real, but the sense of value can easily be inflated by emotions. Anyway, I now prefer to do fewer tricks, and would rather have modest returns, understand the contract structure, and have a clear exit plan. That’s all for now.

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