Just now in the elevator, I took a quick look at the chain, and the signal was spotty. I only focused on two things: which contract the yield aggregator is throwing money into, and who the counterparty is. No matter how pretty the APY is written, it’s basically a story of “who I transfer your money to, and who they transfer it to.” If any pool has too much permission, or if the upgrade process isn’t closed, or if there’s some trouble on the lending side, the yield immediately turns into “helping others fill holes.” Recently, someone also used ETF fund flows and US stock risk appetite to explain the price movements. I’m too lazy to argue; anyway, during the hype, it’s more important to watch whether contract addresses and large transfers suddenly spike… That’s all for now.