Recently, I saw someone say, "Just put your coins into the pool and sit back to earn trading fees," which sounds a bit off to me... The AMM curve, to put it simply, is just about passively adjusting your position based on price. When prices go up, you'll be sold a part; when prices go down, you'll be bought a part. Impermanent loss isn't some mysterious phenomenon; it's just the result of the path taken. A few days ago, I looked into a swap in a certain pool, the 0x8a…c3 transaction used an aggregator route, first hitting a stable pool and then rerouting to v2. In the end, that move pushed through the boundary price, and the LP's earned fees haven't even offset the losses caused by the curve. Recently, the main public chain is undergoing upgrades/maintenance, and everyone is guessing whether the project will migrate. I'm actually more concerned about whether liquidity will thin out in the next few days, and whether routing will become more "congested." When it gets crowded, it's easier to treat LPs as cushions... Anyway, market making isn't about lying back and counting money. Think carefully about what you're really earning and who you're bearing the risk for.