Every time I see those shiny APYs on yield aggregators, I get itchy to click in, not out of greed, but that feeling of "Everyone's making money, am I missing out?" anxiety... But when I calm down and think about it, APY is just superficial, what's really behind it is which contract is helping you move assets, who holds the permissions, whether you can cut losses in extreme situations. In essence, it's still contract risk plus counterparty risk stacking together. Recently, I heard about some regions increasing taxes and tightening regulations, then loosening them again, causing deposit and withdrawal expectations to fluctuate. On-chain funds flowing back or being withdrawn become more emotional. During such times, the seemingly more attractive yields are actually easier to fall into traps. I now mainly choose slower, more expensive options with clearer paths—earning less is fine, just stay alive.

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