In the past few days, I've seen people discussing re-staking/sharing security, basically stacking yields on top of each other, but the risks are also stacking up. Don’t mistake “appearing more stable” for actually being more stable. Especially those who reuse the same collateral across different platforms; they usually have no issues, but once there’s some fluctuation on the chain or validators go wrong, liquidations and chain reactions can happen faster than you think.

Coincidentally, around the time of that main public chain upgrade, everyone in the group was guessing whether the ecosystem would migrate… I actually care more about: during the upgrade window and when emotions are fermenting, whether the funding rates and options skew are secretly changing, and whether large transfers on the chain are pre-emptively checked. I won’t claim to predict, but I’m already doing risk control: don’t fully allocate your positions, don’t get over-leveraged, and treat the part you’re staking as “money that might suddenly become unusable.” That’s all for now.