Restaking has been all the rage lately—things like EigenLayer and all kinds of AVSs, with stacked rewards on top, really do look tempting. But bluntly speaking, the concept of shared security itself is fine—just don’t treat stacked returns as risk-free arbitrage. When funding rates get extremely extreme and people start debating whether there will be a reversal or whether everyone will keep squeezing the bubble, the liquidity of restaking is actually quite fragile. I tried it yesterday: put in 0.01 ETH to see how much I would really get. In the end, I waited a long time for only a tiny amount, and after factoring in gas, it basically wasn’t worth the trouble. In any case, I think before stacking returns, you should first think about the safety buffer of the underlying assets—don’t just get fixated on the APR number and lose your head. That’s it for now.