These days, I've been seeing a bunch of screenshots of APY from yield aggregators again, the numbers look pretty good, but my first reaction now isn't "Should I go for it or not," but rather "Where exactly does this yield come from?" To put it simply, aggregators are just helping you loop your money a few times: contract permissions, upgrade switches, who the funds are actually lent to, whether the collateral is layered or not... these are the counterparties. A higher APY might just mean you're hiding the tail risk you're bearing a bit deeper.

Recently, the wave of AI Agents and automated trading has also been quite popular, with very ambitious narratives. On-chain interactions are becoming increasingly complex. I'm more concerned about whether they handle signatures, authorizations, and risk control properly, or else "automatic" just means automatically helping you step into a pit.

I'm not regretting the outcome, but rather regretting that I was only focused on the returns at the time, too lazy to even glance at whether the contract can be changed at any time or where the funds are flowing... For now, I'll just watch from the sidelines.