Recently, I saw someone treat AMM as a piggy bank, just throwing money into the pool and waiting for "transaction fee passive income"... I really find it funny and frustrating. Curve's thing, to put it simply, is you selling when the price goes up and buying when it goes down according to the rules. When the market turns, impermanent loss quietly eats away at you, and if the fees aren’t thick enough, you can only pay the tuition on the spot.

Not to mention now everyone is talking about rate cut expectations, the US dollar index, and risk assets sometimes rising and falling together. When volatility kicks in, the assets in the pool migrate faster than cars on a bridge. Anyway, before I do market making now, I first think: do I want to earn some turnover fees, or am I actually betting that the price won’t move much... Think it through before acting, or your mindset will collapse. That’s all for now.