I’ve been looking into re-staking/sharing security again lately. Logically, it really is quite appealing: the same set of assets can do multiple rounds of work, your returns stack on top of each other, and the security gets “shared” too. But what I care about more right now is making sure you don’t stack your delusions along with the gains—risk isn’t gone; it’s just changed shape. Once the correlation gets high, when something goes wrong, you could end up going down together, with no time even to react.

Airdrop season is back. The task platform’s anti-witch measures are getting harsher and harsher, and the points-based system has made the “hairy” crowd grind like they’re clocking in for work… Basically, everyone is chasing “one more layer of return.” I’m tempted too, but the more I get tempted, the more anxious I become: am I really earning small marginal gains, or am I just buying a ticket that says “I’m really smart”? For today, I’ll be conservative first—only touch what I can understand, and skip anything too flashy.