Lately I've been watching LST/re-staking to the point of exhaustion... but I'm still watching. To be honest, the returns are not some divine gift: part of it is the inflation/fees from staking itself, and another part is the subsidies gained by selling the "safety" again. That's also the problem—subsidies are often funded by project teams issuing tokens or attracting traffic, and once the hype fades, it’s easy to collapse; meanwhile, the risks are real—layered delegation, contract risks, penalties/delayed redemptions, and when liquidity tightens, everyone crowds the exit. Another point is, don’t be too superstitious about on-chain data tools and tagging systems; recently, being criticized for being "lagging/misleading" isn’t without reason. I now prefer to focus more on concentration of holdings and unlock curves, and less on narratives. Anyway, I’m stubborn about my stance—if the position feels uncomfortable, I’ll reduce it first. Living is more important than face.

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