I’ve been looking into re-staking and that “shared security” setup again. The returns look pretty attractive as they layer on top of each other, but to be blunt, don’t stack the delusions on top of that: the underlying collateral hasn’t changed, and the risk is just being passed back and forth across different protocols. If you really run into a liquidation chain reaction, the first one to run is the one who’ll last longer… I know this from making bread—fermentation takes time, and if it suddenly puffs up, it’s probably hollow inside. On the L2 side, by the way, they’re constantly comparing TPS, fees, and subsidies, bickering like it’s a market. In the end, it still comes down to capital costs and whether the exit channels are smooth. One noise-reduction strategy in a sentence: focus only on the cash-flow/interest-rate curves you can explain clearly, and sweep everything else aside as background noise.