I recently saw a bunch of yield aggregators hyping APY—most of the time it’s just a few hundred percent. My first reaction is: are these contracts treating users like counterparties? In any case, I’m not going in directly. I’ll first check what strategies the underlying is actually using—arbitrage, mining, or simply using new money to top up and cover old money. Airdrop season is lively, but the task platforms’ anti-bot and anti-Sybil measures make everyone look like they’re clocking in, and the points-based system is competitive like studying for civil service exams—who knows, the final returns might not even be higher than the gas fees. Put simply, the contract vulnerabilities and counterparty risks lurking behind a high APY are harder to get around than the toll booths on a bridge. For now, that’s it—I’ll keep watching a few more recap posts before I decide.