I recently set a rule for myself: when I see something like re-pledging or shared security with "additional layers of yield," don't rush to calculate the APY first. Focus on the oracle and price feed paths. Basically, the yields are compounded, and so are the risks, especially when crossing multiple layers. If any link delays or the data source gets stuck, liquidation becomes like a domino effect, leaving no time for reaction.

Lately, new L1/L2 projects are offering incentives to boost TVL, and old users complain about "mining, then selling." I can understand that quite well... incentives come quickly, and they go just as fast. What’s left are often more complex security assumptions. Anyway, I’d rather earn a little less now than treat "shared security" as a free pass to avoid risks. One distraction and something could go wrong. That’s how I see it for now.