Recently, someone compared "collecting fees in the pool" to depositing fixed-term deposits, which I find quite funny and a bit frustrating… AMM curves, in simple terms, are just you using price ranges to exchange liquidity. When the price drifts away, impermanent loss comes to settle accounts with you; fees are just trying to fill the gaps, not free gains. Especially during high volatility, market making is more like selling volatility. If you don’t understand, don’t force it. By the way, the group is arguing over privacy coins/mixing coins and compliance boundaries, but many people are too lazy to even calculate "what risks are you taking," so let’s just leave it at that.