In the past few days, I've been looking into projects related to staking/sharing security, and the more I look, the more I feel that "compound returns" can easily turn into an illusion in the end: the same security is repeatedly used for endorsement, and the risk is actually compounded. To put it simply, I now prefer to focus on verifiable on-chain information, such as who is actually using it, whether staking is concentrated or not, and how the exit/punishment rules are actually implemented. Otherwise, those annualized returns look tempting, but if something goes wrong, you wouldn't even know which door to run out of.

Recently, I was quite interested in an account that kept bragging about how they stack their "combination punches" every day. But when I saw them briefly mention the risk part, I started to feel uneasy... so I gradually unfollowed. Maybe I'm just cautious, but I’d rather miss the first wave than be the "safety provider" caught holding the bag in the second wave.

The inflation + studio + coin price spiral in blockchain games is pretty much the same: on paper, growth looks lively, but the underlying cash flow and constraints are vague, and it can collapse very quickly. Anyway, I now see "multi-layer returns," and I have to ask first: do losses also have multiple layers? That's all for now.