My costly lesson in chasing the DeFi shiny object

Been around the block a few times, but DeFi still finds ways to humble you. My big mistake, which ended up costing a decent chunk of my capital, was chasing the yield on some relatively new, unaudited liquidity pools back in the bull run. I saw the APRs, which were truly eye-watering, and convinced myself I was early. The actual setup was fairly complex, requiring multiple token swaps and staking on a less-known chain. I bypassed my usual due diligence, focused purely on the potential upside, and ignored all the red flags about rug pull potential and smart contract risk. What happened? Within a week, the underlying asset tanked by 80%, and the LP dissolved, leaving me with a fraction of what I put in. Lesson learned: high yields almost always come with proportional, if not higher, risk. Sticking to battle-tested protocols and audited contracts now, even if the returns are more modest. The peace of mind is worth more than chasing that last percentage point of yield.