Recently, someone was talking about "putting it into the pool and just lying back to collect fees," and I felt a bit guilty listening to it... The AMM curve, to put it simply, is automatically helping you buy low and sell high. When the market moves in a one-sided way, impermanent loss will gradually eat back the fees, and in the end, the returns look quite stable, but in reality, the position has already been deformed. Not to mention that these days, staking unlocks and token unlock schedules are being brought up every day to scare people. When sell pressure expectations come in, those small fees in the pool might really not be enough to cover it. Anyway, now I focus on volatility and correlation when market making, keep my positions smaller, and feel more at ease—don't treat "market making" as a savings account.