I'm about to try Defi platform now but i have no idea about it. All I really just see is that its going to give me more than 10% of APY. This is good enough for me but I just want to be aware of the risk if anything could happen. Any given situation, is this not going to be good?
The main risks are different hacks, panic and dishonesty of devs (scam). In the first case you can lose everything, but the development team might offer compensation. In the second case, the token of this project is likely to be devalued. But if you stake another coin it doesn’t not matter for you. And in the third case, you can lose everything. To protect yourself from such unpleasant things you should do your own research before investing and be ready for the worst.