I used to really think that a yield aggregator was just “help me find the highest APY in one click,” and that you could lie back and harvest the returns and be done with it… but now I understand that after the APY, there’s actually a whole stack of contract calls + routing, and even counterparty risk: you think you’re earning interest, but in reality you’re taking on the risk that a strategy could face liquidation, de-pegging, or even a suspension of withdrawals.

In the past two days, people in the group have been talking about staking unlocks and token unlock calendars—frankly, everyone’s afraid that little “sell-pressure anxiety” will come crashing down. What I’d do instead is first check: where exactly does the aggregator place the funds, whether the underlying protocol has mechanisms to handle a run, who has the permissions, and whether that emergency switch can be hit and everything stops at once… Without figuring that out, even if the APY looks amazing, I still can’t sleep well. Anyway, I’d rather take my time picking up shells than end up picking up ones with thorns.