January 10th, Sunny

Another 350,000 veLISTA hit my wallet today. Watching the numbers jump around in my portfolio should make me happy, but instead I'm feeling a bit uneasy.

To be honest, the yield is absolutely insane—38.45% annualized. If I saw that number in a dream, I'd jump out of bed. I'm also holding slisBNB, and with multi-chain yields combined, my account looks great on paper, but the more I earn, the more hollow it feels.

Here comes the core anxiety: ListaDAO proposed last week to burn 20% of LISTA's circulating supply—burning 1 billion tokens down to 800 million. From a fundamentals perspective, this should be bullish—reduced supply, increased scarcity. But as an old crypto bag-holder, hearing "major bullish news" gives me PTSD. Whenever there's a pie falling from the sky, I can't shake the feeling that the trap beneath is usually the deepest.

What worries me even more is their governance pace. Voting can be executed within 48 hours in the name of improving DAO efficiency. The speed is certainly fast, but last time they had that proposal about risk diversification, the execution was already live before I could even get through the terms. Is this really democratic decision-making, or just efficient tyranny by a few?

What keeps me up at night most is that CertiK audit report. They gave the code a safety score of just 5—out of 100. Large portions of the code modules weren't even reviewed. Think about it like this: it's like buying a mansion and they only inspected the living room, with zero idea about the structure of all the other rooms. Is this 38% yield really genuine Alpha returns, or just another name for "risk compensation"?

Forget it, the more I think about it, the more bothered I get. Today I'll just collect these 350,000 LISTA and treat myself to a new phone. One day in crypto really does equal a year outside it. You earn when you should earn, but you also have to watch out not to shoot yourself in the foot. Can't help but earn while staying cautious.