Recently, I’ve been looking at a few yield aggregators again, and that APY on the page really sounds tempting, but I have a bit of a reflex now: where exactly does this yield come from… Is there another layer of wrapping in the contract, and another layer after that, ultimately just betting that a counterparty won’t run into trouble? Honestly, I’m more afraid not of low returns, but of one day discovering the redemption button has been grayed out, and everyone starts blaming each other.

It’s also quite similar to the NFT royalty disputes: one side says they want to support creators, while the other says they need liquidity, and in the end, the pressure is shifted to ordinary people to choose. Anyway, I’ve now lowered my goals, not chasing the highest yields, but first picking projects I can understand and with clear exit paths. Taking it slow actually helps me stick with it better. Maybe I’m just being timid… but at least I can sleep peacefully.