Recently, I've been seeing people showcase the APY of yield aggregators; the numbers look pretty attractive, but my first reaction isn't "go for it," but rather, which contracts are they actually putting the money into, and who is on the other side as the counterparty. To put it simply, the aggregator itself is just a "router"; if the router misses permissions, whitelists, upgrade points, or if a certain underlying pool suddenly suspends withdrawals, the annualized return you see will just be a screenshot. (I admit, I still get a bit tempted when I see high APY.)

These days, that mainstream public chain is about to upgrade/maintain, and everyone in the group is guessing whether the ecosystem will move elsewhere. I'm actually more concerned about whether cross-chain, oracles, liquidation bots, etc., will act up before and after the upgrade—aggregators are most vulnerable to chain reactions. Anyway, my current approach is pretty simple: first, see which protocols the funds are actually in, whether I can exit at any time, and whether I can accept being stuck for a week in the worst case... that's it for now.