Another 350,000 veLISTA came in today. Watching the numbers in my wallet fluctuate, I should be happy, but somehow I feel a bit uneasy.
To be honest, the yield is truly insane — 38.45% annualized. If this number showed up in my dreams, I'd jump out of bed immediately. I also hold slisBNB in my position, and with multi-chain yields combined, my portfolio looks great on paper, but the more I earn, the more hollow it feels.
Here comes my core anxiety: ListaDAO launched a proposal last week to burn 20% of LISTA's circulating supply, directly reducing 1 billion tokens to 800 million. From a fundamental perspective, this should be a positive — reduced supply means increased scarcity. But as a veteran shitcoin trader, the moment I hear "major bullish news," I instinctively get PTSD. It always feels like when money falls from the sky, the pit underneath is often the deepest.
What worries me more is their governance pace. Voting can be executed within 48 hours, supposedly to improve DAO efficiency. The speed is indeed fast, but with that previous proposal on risk diversification, the measures were already implemented before I could even digest the terms. Is this truly democratic decision-making, or technocratic efficiency by the few? Something just feels off.
What keeps me up at night most is that CertiK audit report. They gave the code a security score of only 5 — out of 100. Large portions of code modules weren't even covered in the inspection. Think about it this way: it's like buying a mansion and having them only inspect the living room, with no idea what the structural integrity of the other rooms looks like. So is my 38% yield real Alpha returns, or just a euphemism for "risk compensation fee"?
Forget it, the more I think about it, the more uncomfortable I feel. Today I'll just claim these 350,000 LISTA and treat myself to a new phone as a reward. One day in crypto really is worth a year outside. When it's time to make money, make it, but also watch out for shooting yourself in the foot. Earn while being cautious, that's the way.
January 10th, Sunny
Another 350,000 veLISTA came in today. Watching the numbers in my wallet fluctuate, I should be happy, but somehow I feel a bit uneasy.
To be honest, the yield is truly insane — 38.45% annualized. If this number showed up in my dreams, I'd jump out of bed immediately. I also hold slisBNB in my position, and with multi-chain yields combined, my portfolio looks great on paper, but the more I earn, the more hollow it feels.
Here comes my core anxiety: ListaDAO launched a proposal last week to burn 20% of LISTA's circulating supply, directly reducing 1 billion tokens to 800 million. From a fundamental perspective, this should be a positive — reduced supply means increased scarcity. But as a veteran shitcoin trader, the moment I hear "major bullish news," I instinctively get PTSD. It always feels like when money falls from the sky, the pit underneath is often the deepest.
What worries me more is their governance pace. Voting can be executed within 48 hours, supposedly to improve DAO efficiency. The speed is indeed fast, but with that previous proposal on risk diversification, the measures were already implemented before I could even digest the terms. Is this truly democratic decision-making, or technocratic efficiency by the few? Something just feels off.
What keeps me up at night most is that CertiK audit report. They gave the code a security score of only 5 — out of 100. Large portions of code modules weren't even covered in the inspection. Think about it this way: it's like buying a mansion and having them only inspect the living room, with no idea what the structural integrity of the other rooms looks like. So is my 38% yield real Alpha returns, or just a euphemism for "risk compensation fee"?
Forget it, the more I think about it, the more uncomfortable I feel. Today I'll just claim these 350,000 LISTA and treat myself to a new phone as a reward. One day in crypto really is worth a year outside. When it's time to make money, make it, but also watch out for shooting yourself in the foot. Earn while being cautious, that's the way.