Recently, I saw a bunch of screenshots of APYs from yield aggregators again. The numbers look pretty, but what immediately comes to my mind isn't the yield itself, but "where does this yield actually come from, and how many layers of intermediaries are involved?" To put it simply, what’s hidden behind the APY isn’t magic, but contract permissions, routing logic, liquidation conditions, and whether counterparties might suddenly cause trouble.

I also came across interpretations of ETF capital flows, where people tie the risk appetite of the US stock market directly to the rise and fall of the crypto market. This actually makes it easier for emotions to take over, and then people become lazy about paying attention to the details.
What I fear most isn’t slow progress, but chaos — earning slowly is fine, but stacking risks by recklessly using a bunch of contracts can turn into a tangled mess. When something really goes wrong, no one will even know who should take the blame. Survive first, then talk about returns.