Recently, I've come across a bunch of posts about re-staking / shared security again. Everyone is calculating "compound returns," but frankly, I'm more worried about the illusion of compounding: you repeatedly use the same collateral for endorsement, and while the returns look additive, the risks are often multiplicative. When something really goes wrong, all the correlations suddenly align, leaving no place to escape. On-chain data isn't impossible to check; at least clarify the sources of staking, delegation destinations, slashing rules, and exit queues before talking. Otherwise, it's just using "annualized" returns as a placebo.

By the way, over in Layer 2, people are arguing daily about TPS, fees, and ecosystem subsidies. My partner next to me is complaining: isn't this just like a coupon war on a food delivery platform? Cheap is cheap, but who ends up paying in the end isn't certain... Anyway, I'd rather take less now and understand the risk pathways clearly before increasing my position.