Recently, someone asked me again, "Is staking + sharing security equal to an additional layer of profit?"

It sounds a bit like treating weather forecasts as lottery tickets...
Profit stacking is possible, but risks also stack together, especially when you collateralize the same asset in different places.
When something goes wrong, it's a chain reaction, not just a small loss.

A beginner's misconception: the extra profit = free gain.
My current understanding: the extra profit = you are bearing more tail-end risk for the system, just not visible in everyday view.

These days, RWA, US bond yields, and on-chain yield products are being compared together.
I can understand everyone wanting to find something "stable," but with that kind of "looks like government bonds" packaging on-chain,
you need to clarify who is paying interest at the bottom layer, who is backing the guarantee, before jumping to conclusions.
Anyway, from what I see in mempool, most losses are not technical issues, but illusions being too full, slippage, and liquidations happening too fast.
That's all for now.