Recently, I came across a bunch of screenshots of APYs from yield aggregators. They look pretty attractive, but my first reaction now isn't "go for it," but rather questioning which layers they are actually consuming: how are the contract permissions set, whether the funds are being used for circular lending, and if in extreme market conditions, liquidation might cause a chain reaction. Honestly, returns don't come out of nowhere.

Another point is, don't be too superstitious about on-chain data tool tags and "smart money" labels... Recently, there's been talk about lag and even being misled. Often, what you see as the "source" is already a second-hand narrative. Anyway, when I look at aggregators myself, I prefer to have lower APYs if it means I can clearly understand the routing and counterparties, otherwise I can't sleep well.