Recently, I’ve seen a bunch of screenshots of APYs from yield aggregators again, and the numbers jumped so much it made my eyes go blurry. But honestly, my first reaction now isn’t “how much am I earning,” but rather “who is actually backing these yields.” Are there backdoors in the contract permissions, is the strategy just throwing your money into other pools and layering it, or in extreme market conditions, will the counterparty just run off? I used to chase after those high APYs, but ended up stuck in withdrawal queues, and my mental state collapsed faster than losing money. It feels like this stuff is both a buffet and a blind box— the more pools there are, the easier it is to forget what you actually ate. Recently, Layer 2s have been arguing over TPS/fees/subsidies, and I find it pretty funny. Anyway, once the subsidies stop, all that’s left is the contract terms. Now I’d rather earn a little less and sleep more peacefully.