These days, I’ve been seeing a bunch of diagrams in groups about "re-staking + shared security = an extra layer of profit," which feels quite familiar. To put it simply, profits can stack, and so can risks; the only difference is that risks don’t like to appear in that diagram. If you treat the same underlying asset as collateral, security budget, and "liquidity" at the same time, and extend the on-chain path, when something goes wrong, it’s not just a single point explosion, but a chain reaction.

Not to mention the recent repeated rumors about stablecoin regulation, reserve audits, and various "de-pegging" warnings. When everyone’s emotions run high, it’s easier to see "getting a little more" as a certainty. My current approach is quite simple: I’d rather take a smaller cut and try to see clearly who is actually backing the money. That’s how I do it for now.