Recently, I've been looking into re-staking/shared security again. The compounded returns do sound pretty attractive, but honestly, it's easy to mistake "an extra layer of yield" for "an extra layer of certainty." That illusion comes from here. Security is shared, and so are the risks. If the underlying layer encounters some issues one day, the layers above might shake together, and it could be too late to run.

These days, the funding rates are extremely volatile again, and the group chat is buzzing: is it a reversal or just more bubble squeezing? I’ve basically stopped guessing the direction now. The more lively it gets, the more I remind myself not to leverage up. I trim my positions like pruning a potted plant, leaving some room. Anyway, I prefer to allocate part of my funds to a stable pool and slowly grind it out, and treat the rest as practicing patience... It’s a bit depressing, but it’s okay, at least I’m not panicking.