These days, I’ve seen people treat AMM liquidity provision as “deposit and earn passively,” and I honestly find it a bit funny and a little unsettling… Essentially, this curve thing is just you helping the market automatically rebalance, selling everything when prices go up, buying more when prices go down. Impermanent loss isn’t “an occasional event,” it starts calculating as soon as the price moves. Whether the fees can cover it all depends on volatility and trading volume—don’t just focus on the APR.

Recently, cross-chain bridges have been hacked again, and oracle price feeds have been acting up. I can totally understand the collective “wait for confirmation” consensus: you think you’re doing market making, but actually you’re just giving abnormal prices a dumping ground. Anyway, I now treat complexity as the enemy, keeping the main strategy simple, and only playing with high volatility in the side dishes—survive first, then talk.