Last night, I was watching that yield pool on the chain game, and I was really scared: I almost threw some money into it. Luckily, I checked the token issuance rhythm and the actual inflow and outflow in the pool first. To put it simply, when inflation kicks in hard, the yield becomes like tap water—looking attractive a few days ago, but later it all depends on new users taking over to fill the holes. The pool’s depth gets drained dry in no time. What’s more annoying is that the packing order is being manipulated; when MEV front-runs you, you think you’re “getting in on time,” but actually you’re just providing exit liquidity for others. Now, I really understand why retail investors complain about validators’ income: you pay gas fees, they take the ordering fee, and when the pool crashes, you’re the one who takes the blame. Anyway, whenever I see “high yield,” I automatically assume high consumption—better to earn less than to fuel inflation.

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