I’ve been looking at yield aggregator pools again recently, and the APY on the page looks like bubbles rising in a fish tank—pretty tempting. But I’ll ask one thing first: who blew these bubbles? Exactly which protocol is the contract sending the money to for mining? Is there any route switching? Are there permissions that can change the strategy? What I fear most is that it’s written as “automatic compounding,” but in reality it’s just a handshake with an unseen counterparty… Fee distribution is the same way too: on the surface it’s “optimization,” but on closer inspection, you may be the one doing work for someone else.

The airdrop season makes everyone feel like they’re clocking in for work. The stricter the anti-bot (anti-sybil) measures get on task platforms, the more intense the points system becomes. But I’m actually less willing to put my principal into a bunch of contracts that are temporarily set up “just for points.” In any case, I’d rather earn a bit less for now—once the contract address, permissions, and where the funds go are clear, I can sleep more soundly.