Recently, someone told me again, "Just toss it into the AMM and you'll earn fees passively," and I got goosebumps listening to that... Basically, that curve is just pushing you to buy low and sell high; when the market turns, impermanent loss is like a poorly patched hole, vulnerabilities immediately surface. After being liquidated once, I learned my lesson: market making also involves risk accounting like margin, otherwise before the fees even heat up, you'll look back and find your coins are fewer.

Now, with modularization and the DA layer narrative being hyped up, developers are excited, but users are confused, and I’m pretty much the same... Anyway, I’m just testing the waters with a small position, losing it as a tuition fee, patching it up: tweak some parameters, lower the position size, don’t think about reinstalling the entire system at once. That’s it for now.