Recently, everyone has been talking about LST and re-staking, and honestly, the returns are not just falling from the sky: one part is the original reward from underlying staking, and the other part is the subsidy/fee you earn by "renting out" the same security to more places. It sounds pretty good, but the risks also stack up: adding another protocol means more layers of contracts, oracles, governance, liquidation/penalties, and the biggest fear is that when liquidity tightens, discounts widen, and everyone rushes to exit.

I've studied router failure modes for a long time, and I increasingly believe that relying on "talent" to make quick money is unrealistic; living longer by relying on habits is more important: being able to understand the source of returns, accept the worst-case scenario, and stay calm during blockages and delays. The inflation + studio + token price spiral in blockchain games is also a reminder: profit driven by subsidies, and once subsidies stop, the true nature is revealed. Anyway, I'm now more concerned about whether the exit path is smooth—don't want to end up with only screenshots of returns.