Recently, I saw a bunch of people talking about LST and re-staking again, basically the returns mainly come from "people willing to pay for safety/liquidity," plus the sweetener of protocol subsidies. But the risks are quite real: contract issues, layered re-staking leading to penalties/liquidations, or even if liquidity tightens, you have to sell at a discount to get out. Anyway, it's not a free lunch.

What I care more about now is the macro expectations of interest rate cuts, the movement of the US dollar index, and the risk assets moving in tandem with the same rise and fall... You might think you're earning on-chain yields, but in reality, you're probably just riding the wave of overall risk appetite volatility. Last night, I kept refreshing/retrying on-chain multiple times to confirm, and suddenly I felt, it's okay to slow down, no need to sacrifice sleep just for a tiny bit more.