I just came across a project with an APY that’s ridiculously high. My first reaction wasn’t to ape in—I was looking for the “knife.” The recent interest-rate environment has loosened a bit, but don’t think your risk appetite can just follow the macro like nothing happened—when market sentiment heats up, the project team knows even better than you how to pick your pocket. I have a habit: every time I think about placing an order, I first write a risk checklist—inflation rate, lock-up period, access/permission controls, and whether the oracle is solid. After I finish, I stay calm for half an hour, then decide whether it’s actually worth betting on. In plain terms, behind a high APY there’s often hidden redemption/bank-run risk—don’t let the numbers dazzle you. The current airdrop season is getting out of hand; the points system makes “farming” feel like a job, and the anti-sybil measures have everyone on edge. But I still think you should first manage your own position—don’t put your life savings into it just for those points. After all, I’d rather miss out than step into a trap.