Recently, I saw a bunch of "re-staking + shared security" yield stacking strategies again, basically selling the same risk in multiple layers. The testnet incentives and points schemes are also jumping in to join the fun, everyone’s guessing whether the mainnet will issue tokens... I’ll just treat the "will issue" as an illusion for now, or I’ll get more and more overwhelmed the more I think about it.

I asked myself: What exactly is re-staking earning?
My answer: Most of the time, it’s packaging tail risks and transforming them into a smoother-looking curve.

Especially those that span across several protocols—once you route through, MEV bots catch the scent, and you get slippage + front-running + rollback on failure, and in the end, you might not even end up with more than just honest single-layer staking. My approach is pretty simple: only deal with protocols whose liquidation logic I understand, try small amounts first, and test the exit routes. Points are just freebies, not wages. That’s how I start.