My phone just popped up a red dot again, saying "Re-pledge + shared security, yields stacking another layer"... My first reaction wasn't excitement, but a warning alarm went off in my mind.

Yields can be compounded, but risks can also be amplified. To put it simply, many times what’s being stacked is the illusion of "I think I’m safer": the same collateral is borrowed multiple times for endorsement, and if there's an on-chain incident, everything related could shake together.

Recently, everyone has been complaining about validator/miner income, MEV, and fairness in ordering, which I can also understand. When the incentives at the bottom layer get chaotic, the first to be squeezed are often small fund execution quality.
My approach is still old-fashioned: first, think clearly about exit paths, penalty mechanisms, and relevance—can I close the position, how long can I unwind, what's the worst loss... If I don’t understand, I just ignore that notification for now, and leave it at that.