These days, I see the group arguing again about whether the extreme funding rate will reverse or continue to inflate the bubble, and I can't help but find it a bit funny... Everyone is fixated on the direction, but actually, AMM makers are more afraid of "getting slapped in the face back and forth." The more aggressively the curve is adjusted, the more attractive the fees seem, but once the price deviates from the range, impermanent loss acts like slow blood loss. To put it simply, market making isn't just earning passively; it's more about using your position to exchange for a period of fees.

Right now, I mostly only dare to do stablecoins or blue-chip tokens, preferring to pay lower fees rather than get pierced through the range by a single spike. Next time, if the fee rate remains so extreme, I might narrow my position and set a more conservative range... When you encounter this kind of market, do you choose to withdraw from the pool and watch, or tough it out and wait for the fees to wear down the IL?