Actually, everyone understands that the APY on the yield aggregator is just for show; behind the scenes are multiple layers of contracts, several authorization steps, and strategies that ultimately decide who the money is handed over to for work. It looks convenient with one click, but in reality, it’s trading “my own operational risk” for “contract + counterparty bundled risk,” and when something goes wrong, you’re not even sure who to blame.

Right now, I look at aggregators not for the yield, but first check the contract address and permissions for any anomalies, whether the strategy can be changed at any time, and then consider whether I can accept its worst-case scenario. Recently, hardware wallets have been out of stock, and phishing links are especially numerous. During times like these, I feel even more: fewer authorizations, fewer link jumps, taking it slow feels more secure. Anyway, I’d rather earn less than wake up in the middle of the night chasing authorization records.