SatsumaSignal

These days, I saw the group arguing again about whether the extreme funding rate is a reversal or just a bubble squeeze.
I ended up flipping through the yield structure of LST and those re-pledge protocols…
It seems many people treat "an extra layer of yield" as free money, but the more I look, the more it seems like risk is being unpacked and bundled again.
To put it simply, the underlying of LST mainly still comes from that "original cash flow" of staking rewards,
and the additional part of re-pledging is more about exchanging "safety/ tail risk":
for example, if you reuse the same

After I muted the group, I actually became more alert... Previously, social mining and fan tokens flooded the screen every day, with slogans like "Attention is mining." Watching it for a long time, it’s easy to get hooked, and my hand would want to click links or connect wallets. To be honest, the safety red lines are few: never input seed phrases on web pages/forms; if you don’t understand the signature authorization, don’t sign, especially those that ask you to "update permissions" or "claim airdrops"; and there are phishing sites—just one letter off in the domain name can trick people badly