Recently, I've seen a bunch of people rushing to testnets, daily grinding for interactions and points, all while asking "Will the mainnet issue tokens"… I whiled away the time thinking, as long as you don't treat market making as easy money. The curve of the AMM looks very smooth, but in reality, when you put two types of tokens in, you're accepting an exchange of "less profit when it rises, more tokens when it falls," and as prices fluctuate back and forth, impermanent loss quietly eats away at your small fees. Forget it, to put it plainly: you think you're collecting rent, but often you're just helping others bottom fish/recapitalize. My approach is simple: small positions, don't chase hot pools, if you can't make money, I don't stay up all night.

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