I saw a screenshot again claiming that "a certain stablecoin is going to depeg" in the chat group, and as soon as emotions run high, everyone loves to find a high APY to ease their nerves... Anyway, let’s pour some cold water first: the numbers on the yield aggregator are not just falling from the sky; behind them, either your money is being layered through a bunch of contracts, or it’s being lent or market-made with a counterparty, or even involving cross-chain transfers. Each additional layer of contracts increases the risk of something going wrong; having more counterparties means more risk of not being able to repay. Recently, there’s been a lot of noise about regulation and reserve audits. The more tense the situation, the less you should just focus on APY—at least check where the funds are ultimately going, whether you can withdraw at any time, and if there’s a “pause redemption” button... Otherwise, you might think you’re earning interest, but in reality, you’re just taking the fall for someone else.