These days, I've been again stacking LST/re-staking. To be honest, the returns don't fall from the sky: one side is the "slow money" from underlying staking, and the other is basically various "points/incentive expectations" driving up the price. Everyone's betting on whether the mainnet will issue tokens... if not, it would be awkward. The risks are pretty straightforward, aside from contract risks that might or might not explode; more often, it's the increasingly complex chain: custody, contract vulnerabilities, confiscation, liquidity squeezing causing discounts. When something really goes wrong, you're even slow to react.

I used to be stubborn and say "I only look at on-chain data," and when I saw funds flowing in one direction, I wanted to jump in. But when the order book sentiment flipped, I still got kicked out... Now I've changed to two rules: no adding positions at night (I'm too easily emotional), and only stake as a high-volatility position—earn a little if I can, but don't treat it like a savings account. The main thing is to stay alive first.