Recently, I saw someone treating AMM as a piggy bank. Honestly, market making isn't just free money; when the curve shifts and the price moves, your position gets "rebalanced" automatically. Impermanent loss sounds mysterious, but basically, you think you're holding both sides, but after the price swings, you end up with less than just holding the spot asset... As a veteran user of cross-chain bridges, I've seen liquidity move overnight. The biggest fear is when market volatility and congestion hit together—waiting for confirmations until dawn, and the transaction fees become a source of anxiety.

The NFT royalty war also feels similar: creators want income, secondary markets want liquidity, and in the end, the pressure is on "who will pay the bill." What I don't regret is checking the curve and exit conditions more carefully before entering the pool—dream less, and even if you can't sleep, it's worth it.