Recently, I saw someone treating AMM like a deposit machine. Basically, you’re just betting against price fluctuations. The more “aggressive” the curve you choose, the more the orders look tightly attached to the price, and the fees do look a bit more appealing—but the impermanent loss will be harsher too. Once the market moves, you’ll find your position automatically swapped to the side you don’t want to hold more of… Market making isn’t just lying back collecting “rent.” It’s trading inventory, volatility, and counterparty risk for those fees.

Someone else asked, “Why am I losing money even though I’m earning fees?” Honestly, it’s pretty normal: fees build up linearly, while IL often comes in jumps. If you don’t understand the curve, don’t touch high leverage/high concentration “toys.” They really aren’t beginner-friendly.

By the way, with all the modular and DA-layer narrative, developers look excited while users look confused. I think it’s pretty similar to AMM: the more complex the underlying layer is, the easier it is to be misunderstood. In the end, the one taking the blame is still the principal in your wallet… Anyway, before I create a pool myself, I always calculate the worst-case scenario first—otherwise I can’t sleep.