Recently, I’ve seen a bunch of yield aggregators advertise APYs that are as high as oven temperatures—pretty tempting. But I first want to look twice at who they’re actually doing business with: Is the contract upgradeable, has the money been re-staked elsewhere, is the underlying pool supported by a certain market maker/lender... In short, APY is just the surface caramel; underneath are counterparties and permissions. By the way, I’ve also been thinking about recent social mining and fan token schemes—“attention as mining”—it’s a bit like this: when things are lively, everyone thinks they’re making a profit; when it cools down, you realize the real mining is your own time. Anyway, I’d rather earn a little less than wake up one day to find the contract has been changed or fees have been secretly increased. For now, the bread is still fermenting.