A couple of days ago, I got the itch to tinker and cobbled together a pool with a bunch of airdrop dust to do AMM market making. I figured, “It’s just small money—just chill and rake in the fees”… Then the market suddenly flipped out: the curve bent, and my funds got passively swapped into the side I was even less willing to hold. When I checked, the impermanent loss was more brutal than the fees. I can’t even—there was no “just sitting there.” To put it simply, market making is selling volatility. The bigger the volatility, the easier it is to get harvested.

Recently, everyone’s been arguing about modularization and the DA layer and all that. Developers are excited like it’s Chinese New Year, while users (me) are completely lost: if you don’t understand it, don’t mess around. That time was a classic example of me not understanding and still getting involved—I lost a bit of tuition. Now my strategy is even more “Buddha-like”: if I don’t understand it, I just won’t move. I’d rather keep picking up floor NFTs and dust, slowly waiting it out, and sometimes I can turn things around.