Recently, there has been more noise about re-pledging and shared security, with claims of compounded returns, and some people complain it’s like “matryoshka dolls.” From my risk perspective, I have just one point: if returns can be compounded, so can responsibilities. Many people subconsciously ignore the latter. Layering authorizations, passing contract permissions further and further away—when something goes wrong, you’re probably only going to remember “I thought it was the same ecosystem at the time.” Shared security sounds very appealing, but security isn’t about emotions; it’s about probability. More returns don’t automatically mean the probability of bad outcomes decreases. Anyway, my own approach is pretty simple: sign less, approve less, dismantle what can be dismantled, and sleep more peacefully.