These days, watching L2 fight over TPS, fees, and subsidies, I keep hearing people argue about which is more powerful. It makes me think of the stupid things I used to do: treating market making like a piggy bank... Honestly, that AMM curve is just forcing you to buy low and sell high. When the market moves, impermanent loss reminds you, "Don't expect to make easy money."

Whether trading fees can cover the loss depends on volatility and trading volume, not on which slogan the chain loudly proclaims.

I've now developed a habit: before entering a pool, I first consider whether I can accept the worst-case scenario. If I can't, I don't force it.
It's okay to go slow; in the long run, it's not about talent but about whether you can keep from making the same mistake again.