Late-night snack stall browsing on the chain and seeing someone show off high APY from yield aggregators, my first reaction now isn't "Go for it," but rather to check where they actually put the money: Can the contract be redeemed at any time, is the underlying pool leveraged, are there strange lending or market-making counterparties, in short, APY is just a surface number, there might be a string of "risks you didn't notice" behind it.

Recently, with extreme fluctuations in funding rates, people in the group are arguing whether to reverse or continue squeezing the bubble, I’m not guessing the direction anyway... The combination of high returns and extreme rates looks like someone is using volatility to give you "interest."

A couple of days ago, I set alerts and limits for several pools, and my mindset is totally different: I used to be eager to watch the ups and downs, now I only check when triggered; missing it is okay, at least I can sleep more peacefully.