Last night I got itchy again and added some liquidity to a new pool, thinking "It's an AMM anyway, just sit back and collect fees"... As a result, when I woke up this morning, I saw the price had run like a ghost, I didn't earn much in fees, but impermanent loss came to say hello first. To put it simply, that AMM curve is just forcing you to buy low and sell high; when volatility is high, you automatically become that "gentle machine that absorbs the losses."

Recently, during the extreme funding rate period, there was a lot of arguing in the group about whether to reverse or continue squeezing the bubble. I found it quite amusing: market making is the same, it's not about your judgment of the direction, but the market uses your position to draw the chart. In the future, I might just be honest; small positions are fine for playing around, but don't think of yourself as a passive income master anymore (whoever believes that is foolish).