I just saw another aggregator’s APY that’s absurdly high. My first reaction was a quick jolt, and then I immediately started digging into the contracts behind it and the list of counterparties—basically, who’s subsidizing those high returns? Is it the protocol’s own token inflation, or is it truly generated by real yield? If it’s one of the former, no matter how pretty the returns look, it’s just castles in the air. Lately, people keep bringing up those little controversies around miners/validator income—MEV and ordering fairness have left retail users cursing the whole thing while still having to keep using it, which is kind of surreal. Anyway, when I look at aggregators now, beyond the APY, I care more about on-chain interaction activity and user retention as signals. I say I’m pessimistic, but what I’m doing is adding to my position, and that part is honest.