Recently, I’ve been looking at the APY of yield aggregators, and it really feels like that “free massage chair” ad in the elevator… The bigger the number, the more I want to reach around and see what’s hidden behind it. The truth is: APY doesn’t just appear out of nowhere—either one contract layer is stacked on top of another, doing automatic arbitrage, or behind the scenes there’s actually borrowed liquidity and a trade counterparty. And one day, if any link in the chain goes haywire, the whole thing could end up sneezing together.

Also, lately hardware wallets have been out of stock, phishing links are flying everywhere, and everyone’s security awareness has suddenly kicked into high gear—I’ve got to say I find that pretty reassuring. But don’t just protect against links; don’t ignore contracts either… If at the time I’d been lazy and directly authorized my main wallet to the “aggregator,” that would’ve saved me some time—along with, conveniently, my peace of mind. Anyway, I’m only testing with small amounts now. If I can give less authorization, I will. As for leverage? Forget it—going up and down in the elevator is already enough to make me dizzy.