These days, I’ve seen a bunch of people talking about re-staking, shared security, with yields stacking layer upon layer. It looks pretty good, but I always feel like many people are stacking illusions… To put it plainly, the underlying risks don’t disappear just because you change the name. Instead, the permission chains get longer and longer, and when something goes wrong, you have no idea who actually holds the keys. Last night, I looked into the blockchain, and after a delegate transaction, there was a very strange approve(spender=0x7b…E3, amount=max), with the authorization maxed out. See
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