X% APY is not worth a 100% loss

Starting with the premise that “X% APY is not worth a 100% loss” and recent lido news, I’ve decided to never touch any liquidity coins at least until Ethereum foundation puts some safety nets into place (from community retrieval, to some short of DAO or whatever).

Also, I’ve came to understand that the risk you’re exposing yourself to is way higher than it seem in some cases. And by that example I will give you staking stETH on convex finance. At first glance you’ll say that it’s just a pool where you send your stETH to earn APY. But under the hood you’re exposed to 3 potential contract failures. 1 the stETH contract, 2 the Convex Finance contract and 3rd the Curve Finance contract. And honestly if you weight those for some X% APY is not worth it than simple long term holding.