Re-pledging, shared security, and similar concepts, to put it simply, are about reusing the same "security/guarantee" across multiple places. The returns may seem to stack, but the risks also accumulate. Don’t just focus on that APR number; ask yourself first: who is on the hook at the bottom layer? How are penalties and confiscations triggered? When something goes wrong, is it a slow deduction or a complete wipeout? Are you bearing volatility, or are you risking losing your principal outright?

Recently, hardware wallets have been out of stock, and phishing links are everywhere. I honestly feel a bit speechless: on one hand, worried about losing coins; on the other, wanting to put assets into more complex protocols to "earn an extra layer." Don’t fall for the illusion of stacking gains; the returns aren’t free, and complexity is the real cost. If you really want to play, keep your position small, tighten on-chain permissions, and don’t click on random links… One big loss will be enough to wake you up for a long time. That’s all for now.