These days, I've been looking at a certain protocol's re-pledge/sharing security proposal, and the more I look, the more I feel: the compounding returns are most likely to end up as just an "illusion." Frankly, you think you're earning an extra layer of interest, but in reality, there's an additional layer of correlation and a layer of potential liquidation/forfeiture; when something goes wrong, everyone trembles together, and no one can escape.

External funding rates are extreme, and in the group, people are arguing whether it's a reversal or if the bubble will continue to be squeezed. I'm actually more concerned about: who is paying for these security budgets, and who will be sacrificed first if problems arise? Before voting, you still need to clearly understand the penalty conditions, exit queue, and permission boundaries; otherwise, you're just giving a thumbs-up to a yield point that "looks very beautiful."