Recently, I saw a bunch of screenshots of APYs from yield aggregators again. To be honest, my first reaction wasn't "I've made money," but rather an automatic thought: kite string.

Where is the string? How does the contract split the positions, are permissions locked, can emergency withdrawals be executed smoothly, and who exactly is the counterparty behind that middle layer covering the risk... these are the things I would check first.

Especially now, with social mining and fan token schemes that promote "attention equals mining," it feels like everyone is more easily carried away by the hype.
But returns don't just fall from the sky; often, it's just risk being packaged differently, or even the uncertainty of bridges and cross-chain layers being quietly thrown in.

Anyway, I tend to choose aggregators more slowly: I'd rather accept lower yields than hold that kite string tightly, because if the wind changes, what's blown away might be more than just the APY.
That's all for now.