Staring at the mempool for ages, I found that the yield aggregators’ APYs are the real mirage... They look tempting with three-digit percentages, but the moment you click in and see the contract, your stomach drops—everything underneath is made up of protocols with names you’ve never heard of. Then I check the audit report and, wow, there isn’t even a trace.

A screenshot about stablecoins de-pegging is also going viral in the group. I don’t know if it’s true, but whenever stuff like this comes out, I can’t help thinking: those high yields in the aggregators might just be using users’ principal to bet that the counterparty won’t rug pull. In plain terms, no matter how high the APY is, if the contract breaks, it’s all for nothing.

Anyway, if I see a high APY now, I reflexively start by checking the contract and the counterparty first. Sure, I may be impulsive, but after stepping into enough traps, you learn. For now, that’s it—I’m going back to watching my little anomalies.