Lido just launched a smart strategy vault called GGV, with current ETH yields reaching up to 12%. The principle behind it is integrating a bunch of DeFi protocols at the base layer, then aggregating the yields. A lot of projects are working on similar products. All the underlying operations are abstracted, so for beginners, it’s just a simple Deposit and Withdraw. For veterans, this is reminiscent of the 'yield farming pools' from 4 years ago, which were considered high-risk. The key here isn’t how high the yield is, but the restraint in strategy formulation. The risks that were exposed back then stemmed from issues in the underlying protocols, which could cause the entire Lego stack to collapse. Although today’s DeFi market is more mature than it was 4 years ago, it still heavily tests a project’s risk control system. In terms of yield, it’s currently very competitive, but we’ll need to see how it performs over time to get an average. Right now, it’s showing a single-day APY. Correspondingly, the risks involved are also a level higher compared to the original Lido ETH Staking.