I’m not great at telling grand narratives, but this round of re-staking really has me a bit worried that everyone will just equate “yield stacking” directly with “profit stacking.” To put it plainly: even “safety” can be reused and overloaded—one unexpected incident can trigger a string of explosions. Only when settlement comes do you find out exactly what you’re really putting up. Shared security sounds beautiful, but in practice it’s just bundling and distributing risk: the returns look hefty, and the tail is even longer. Lately, watching the “inflation + studios + coin price spiral” collapse in chain games reminds me: a model can run doesn’t mean it can withstand pressure. Right now I’m watching two things: whether exiting/unlocking is a do-or-die situation, and who will stand behind it if something goes wrong. Don’t trust stories—look at settlement first. That’s it.