Just saw someone discussing LST restaking—where the returns come from is actually pretty clear: one layer is the ETH staking yield from the underlying stake, and the second layer is the extra incentives provided by the restaking protocol. In plain terms, it’s basically new-user acquisition subsidies. But the risks also need to be made clear—smart contract vulnerabilities, liquidity squeezes, and ETH’s own price volatility. These are definitely not low-probability events. For me, restaking is only a very small part of what I do, and I always pick audited ones with TVL that ranks near the top. I’m also willing to spend extra time reading the contract code. Sure, I’ll admit it—security isn’t worth saving those few minutes.

Recently, social mining and fan tokens have been heating up again. “Attention is mining” sounds really cool, but in essence it’s still using incremental capital to fill the gap for existing users. Whether it counts as a false proposition depends on whether the project team can truly convert attention into sustainable value. In any case, I’m not too comfortable touching this kind of thing—I’ll just wait patiently for the next cycle.