I’m not very good at calculating those fancy APYs. Anyway, the yield aggregator serves you up a “hot soup,” and my first reaction is to touch the bowl and see if it’s hot: which contract the money actually went into, who’s helping you “move bricks,” and who you should blame if something goes wrong. Frankly, APY is often just that top layer of oily gloss; underneath it could be leveraged lending stacked on top of leverage, it could be a pool with liquidity that’s too thin, or the counterparty might just be a string of addresses you can’t even name… It looks smooth, but once you drop it, you’ll know whether it’s solid or not.

Recently, that kind of crash scenario like blockchain games with inflation + studios + a spiral in the token price—I think it tastes the same as high APY: the numbers look great, but the things supporting them aren’t “real” enough. I’d rather make a little less now, and I’ll first check permissions, whether it’s upgradeable, and the flow of funds. If I still can’t make sense of it, I’ll just treat the soup as too hot—let it cool down first before talking. Don’t chase the hot soup; first see if it’s hot or not.