These days, I’ve seen a bunch of claims like “re-staking = shared security = passive income,” which sounds pretty appealing, but when returns stack up, it’s easiest to also stack up illusions… To put it plainly, each additional layer of routing increases the chance of something going wrong, especially when you think you’re earning interest, but in reality, you’re taking on tail risk.

I just checked on the blockchain, and in a certain vault’s transaction, a 0x7b3…a19e involved approve + deposit + delegate, with gas fees soaring, indicating everyone is rushing in pretty uniformly. But the more uniform it is, the more I get nervous—if a slashing event or a small contract vulnerability occurs, there’s nowhere to run.

By the way, the NFT royalty debate is getting heated: creators want income, the market wants liquidity, and in the end, it might be just like re-staking—everyone wants to have their cake and eat it too, but it just adds complexity for users. Anyway, my current approach is pretty simple: try new things with small positions for a couple of days, withdraw anytime if needed, and only add when I understand the process and it’s safe, otherwise I’d rather earn less and sleep soundly.