Recently, the group has been sharing charts about stablecoin regulation, reserve audits, and so on, along with rumors that "the peg is about to break," which makes people feel tense and relaxed at the same time. Anyway, in times like these, I prefer to break down the returns from LST/re-staking: honestly, it's not money falling from the sky; most likely, it's someone willing to pay for security/liquidity, or you layer some "extra incentives" on top of the returns. But the risks are pretty straightforward: once the underlying assets face panic selling, LST discounts, redemption queues, protocol parameter changes—more layers mean easier chain reactions. The seemingly attractive annualized rate on the surface is more like borrowing time behind the scenes.