Recently, someone asked me again where the returns from LST/re-staking come from... I interpret it as: first holding the original "base salary" from staking, then the platform takes on other tasks (helping with security, providing services, etc.) to give you extra income. Extra income sounds appealing, but the risks also stack up: contract/node issues, strategy pitfalls, liquidity tightening causing redemption queues, or even the same asset being promised multiple times. When the risks grow, it’s easy to have a major failure.

By the way, I want to complain that on-chain large transfers and movements of hot and cold wallets on exchanges are often called "smart money coming/going." I usually take screenshots first... check again in a couple of days to see if it’s right. Most of the time, it’s just repositioning funds or internal transfers, so don’t get too caught up. Tonight’s candlestick sentiment looks a bit cloudy, so I’ll leave it at that.