To be honest, recently I’ve been seeing the concepts of restaking and shared security trending again, and some people think if returns can stack, then they should go all in. My own discipline is to first look at the mechanism, then think about the illusion. Put simply: what you’re stacking is return expectations, but the underlying risks aren’t shared—if something goes wrong at the protocol layer, then all staked assets become a domino effect. These days, a friend asked me what I think about a certain region imposing new taxes. In reality, its impact on people’s expectations for inflows and outflows is more direct than the technical side, and it actually makes me pay more attention to capital regulation and liquidity. Anyway, I’d rather grind slowly in verifiable profits than bet on the “what if” after stacking. What about you?