More breaking news popped up again—turns out it’s just two L2s competing: who’s faster and who offers more subsidies. Honestly, at this point even the pop-up windows feel a little delusional. It feels like every red notification dot is hiding an ad behind it saying, “Re-stake and you’ll be safer.”

I’ve always felt that when returns are compounded, delusions are the easiest thing to compound too. “Safety” isn’t something you can simply stack together. Shared security sounds like everyone bears it together, but sometimes it’s more like everyone is repackaging the risk. You stack one more layer, I stack one more layer—who really knows what the final layer actually is?

Anyway, whenever I see people promoting re-staking lately, I can’t help thinking that crowds are like fluids: they flow toward whichever side is shouting the loudest. But when the turning point comes, it’s usually the layer you thought was safest that leaks first. Forget it—let’s leave it at that. Read the message, keep watching.