Recently, I’ve been looking at the APYs of a few yield aggregators again. They look pretty attractive, but honestly, behind that string of numbers, you have no idea which contracts your money is being funneled into, or who is on the other side of your trade. Often, the page doesn’t want you to understand that at all. If there are nested layers like cross-chain transfers, lending, and re-staking, it’s hard to react quickly if something goes wrong. By the time a warning pops up, it might be too late… I now prefer to earn a little less and spread my funds across multiple touchpoints, prioritizing those I can withdraw from at any time.

By the way, the arguments over NFT royalties follow a similar logic: everyone’s focused on “whether they should collect,” but secondary liquidity and creator income are inherently at odds. In the end, complex rules often make it harder for ordinary people to assess the risks and costs.

Next time, I’ll first sketch out the fund flow of the aggregator, so I at least know which key contracts it’s stuck on; do you look at APY first by who’s backing it, or by whether you can withdraw at any time?