I just saw someone share the APY of a yield aggregator again. To be honest, my first reaction when I see this number is not excitement, but rather to ask: which contract does this yield actually belong to, and who is backing it? Aggregators hide their paths very deeply, making it look like a "one-click convenience," but behind the scenes, it's actually a series of authorizations, strategy contracts, layered on lending pools/market-making pools. If the counterparty changes or parameters are adjusted, what you receive is no longer the same thing. Recently, before and after the upgrade of the main public chain, everyone has been guessing whether projects will migrate. I'm actually more concerned about: whether they migrate or not doesn't matter, but be careful that during the migration, the contract address, custodians, and price feeds might all change without you noticing. Anyway, my own little habit remains the same: diversify positions, regularly revoke authorizations, and treat extremely high APYs as a test of your emotions—sleep on it first and then decide.

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