Recently, I’ve seen a bunch of yield aggregators claiming APYs that seem almost free. My first reaction now isn’t “go for it,” but rather to check which contracts they’re actually putting the money into and who has the authority to act. Honestly, what you’re getting isn’t “interest,” but a layered credit system involving multiple contracts + routing + counterparties. Any one layer going wrong can ruin you.

What’s more annoying is that some strategies require frequent rebalancing or front-running, and when MEV comes into play, unfair ordering turns into you working for others… Recently, I can really empathize with the complaints about validator/miner earnings. Anyway, I’m only testing new aggregators with small amounts now—first checking permissions, emergency withdrawals, external dependencies. Even if the APY looks high, I treat it as just a reference. That’s it for now.