These days, the group is again discussing re-staking and shared security, everyone calculating "yield stacking" while treating "risk" as an option... Frankly, if you treat the same collateral as both an access card and an insurance policy at the same time, the more "keys" you have, the more likely it is that when something goes wrong, it’s not addition but joint liability. Security isn’t shared out of thin air; it’s a package deal of responsibility, punishment, and governance rights.

Right now, I’m looking at projects mainly from two angles: how slash triggers are activated and who has permission to change parameters; voting game theory is very practical from the start — the more incentives are given, the easier it is to attract people who just want to make a quick profit. Plus, recently some regions have been tightening or loosening taxes and compliance rules, causing expectations for inflows and outflows to become chaotic. The on-chain gains look more like emotional painkillers… Anyway, I’ll turn off the illusions first, and in the notes, I’ll write a couple of jokes to ease the nerves.