These days, projects related to staking and shared security are starting to heat up again. I also feel the itch to stack up the returns, but honestly, is it stacking cash flow or just stacking illusions? Sometimes it's really just a fine line. Structurally, it looks very smooth: the underlying assets remain unchanged, and there's an extra layer of incentives on top; but once any link in the chain encounters a problem, the drawdown is also "shared," and everyone falls together.

In the group, rumors about stablecoin regulation, reserve audits, and various "de-pegging" concerns keep circulating. I find that this kind of atmosphere is the easiest to make people slip up: on one hand, afraid of missing out on gains; on the other, afraid of systemic crashes. Anyway, I now prefer to avoid overly complex chains and nested structures. I'd rather earn a little less and sleep well. If I get too caught up again this weekend, I’ll come back to complain...