Recently, I've been analyzing pools in yield aggregators again. The APY looks as tempting as smoke billowing from a volcano, but honestly, who's really running the show behind those numbers: Can the contract permissions change strategies at any time? Are the yields sustained by external lenders? What if the counterparty encounters issues and you can't even withdraw... Before I jump in, I always check a couple of things: which contract the funds ultimately land in, whether there's an emergency pause or admin key, don’t just focus on the “annualized” rate.

These days, everyone is talking about staking unlocks, token unlock schedules, and the anxiety over selling pressure. Actually, what I worry about more in such times is that aggregators might take on riskier counterparties to maintain attractive yields—appear stable on the surface, but underneath, it's even slipperier.

Anyway, I record impermanent loss and the reasons for pitfalls. I’m okay with being criticized, but there are some boundaries I need to state: I don’t need to be understood; I only take responsibility for my own entry conditions. That’s all for now.