Recently, I saw a bunch of people rushing into LST/re-staking, honestly, there are mainly two sources of returns: one is the basic yield from staking itself, and the other is re-lending the same "security endorsement" to other protocols/services to earn subsidies. When the subsidies are high, it looks quite attractive, but once the subsidies stop, the turning point for interest rates comes faster than expected. When the pool becomes unbalanced, it’s easy to get caught in a stampede, with redemptions queued and discounts happening together, making the experience very uncomfortable.

Where does the risk actually come from?
From "the same collateral being double-counted" + the risk of external contracts failing while you're still inside.

Additionally, hardware wallets have been out of stock these days, and phishing links are on the rise... Anyway, I now treat "re-staking airdrop entry" as a phishing attempt first, and prefer to be slow. The returns can wait, but if the private keys are lost, they’re truly gone. That’s all for now.