These days, I've been seeing a bunch of people looking at token unlock calendars, and they immediately say "unlock = selling pressure," which makes me a bit nervous... But what I want to complain about more is that many people treat market making as a piggy bank, which is really not the case.


The AMM curve, to put it simply, is just you constantly "selling low and buying high." When the market moves, it automatically adjusts your position back and forth. In the end, you might earn fees but lose to impermanent loss, especially in pools with high volatility, which can be very painful.
Before I enter a pool now, I first think: if the price moves unilaterally for a while, can I accept being passively turned into "holding a bunch of weak side"? Then I set a take-profit point, don't be greedy, and if things go south, I honestly review my trades. Anyway, I stopped believing in easy passive income long ago.
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