Recently, everyone has been talking excitedly about re-staking and shared security, with yields stacking upon yields, making it look like emotions are being filtered through a lens... But honestly, security isn't a game of stacking layers, and risks also get "shared" along with it. I'm just a bystander who sees NFTs as emotional assets; when I see this atmosphere of "returns = faith," I instinctively take a half step back: Are you stacking cash flow, or stacking a bunch of assumptions?

And then there's those large on-chain transfers and hot and cold wallets on exchanges being interpreted as smart money whenever they move. Now I tend to think first: Is this a signal, or do people just really need a story to feel secure? Anyway, I’d rather earn a little less myself than stake my illusions along with it. That’s all for now.