Recently, I've been looking into the set of re-staking/shared security again, and the more I look, the more I feel: the yield stacking is really satisfying, but don’t accidentally stack illusions along with it. To put it simply, using the same collateral to endorse multiple services is essentially selling an insurance policy of “If something goes wrong, I’ll take the hit first.” The returns have a source, and the risks won’t just disappear out of thin air.

Especially now, everyone is complaining that validator income is being squeezed thin, and MEV (the practice of inserting transactions into blocks to front-run or jump ahead) makes the ordering unfair, yet at the same time, they’re hoping that re-staking will fill all the gaps… I’m a bit worried that this mindset might eventually turn into “only look at annualized returns, not at penalties or correlations.” I personally prefer to treat it as a high-volatility position, small tests, keep an eye on the rules, and don’t put all your security in a single phrase like “shared security.”