Lately I've been looking at yield aggregators again, and that APY on the page is really tempting, but my first reaction isn't "go for it," but rather to check where exactly the money is being put: does the contract have permission to move funds arbitrarily, is it layered with lending and leverage, who covers liquidation, and if the counterparty has an issue, will everything blow up together? In other words, APY is just the result; every additional layer of routing in the process adds another layer of uncertainty. Don't treat "auto-compounding" as a get-out-of-jail-free card.

Airdrop season has also made me numb; task platforms are increasingly resembling attendance check-ins, and the points system makes degens compete like they’re at work... Then a bunch of people casually throw their assets into aggregators seeking yield subsidies, ignoring the time cost and risks involved. Someone even complained that I "look at yields like I’m reviewing medical cases," and I said, those who’ve experienced zeroing out just have this problem: set stop-loss and exit strategies first, then talk about yields. Anyway, I’d rather earn less than stay up all night worrying.