To be honest, when I used to see triple-digit APY in a yield aggregator, I was pretty excited. But now my first reaction is to go check whether the contract has been audited—and whether the underlying strategy allows someone to force an entry and interfere. In plain terms, behind high yields there’s more than just a math problem; there’s also contract risk and counterparty risk. The bigger the TVL is, the worse the crash when something goes wrong. Recently, I’ve cleared out quite a few positions, and it feels like I’m only willing to put money in after I’ve worked out the numbers. Lately, ETF fund flows and risk appetite in the US stock market are always being interpreted together, and the on-chain narrative gets repriced accordingly too. Some macro sentiments that seem unrelated are already quietly affecting the returns of the yield pools. Every time my roommate sees me messing with aggregators, he has to complain: “Are you really calculating again how someone else helps you make money?”—well, I guess he’s not wrong (shrug).