Recently, I saw someone say "Just toss it into the pool and you’ll earn passively," and I really want to call them out... The AMM curve, to put it simply, is just automatically adjusting positions according to the price. You think you're collecting fees, but actually you're using your own position to make trades for others. When the market swings up and down, impermanent loss comes knocking, and if the fees aren’t enough to cover it, all your effort is better spent just holding steadily. Especially with volatile and chaotic assets, don’t be fooled by the lively pool; when you do the math later, you'll be silent. The inflation + studio wash trading + coin price spiral in blockchain games is actually the same vibe as "high-looking returns but risks hidden away." Anyway, I now always calculate the worst-case scenario before market making; if I can go to L2, I go to L2, to save on gas and at least avoid losing even more badly. Be practical—market making isn’t passive income; it’s work.