Recently, I've seen a bunch of people rushing to test the network to earn points, and in the group, they are asking every day, "Will the mainnet issue tokens?"

While I was drawing some charts, I was thinking: this mindset is similar to providing liquidity on AMMs, where everyone assumes they can just sit back and wait for airdrops or fees.
Honestly, the curve in an AMM isn't a charity; when the price deviates, the asset ratio in your pool also changes, and the fees earned might not even be enough to cover impermanent loss, especially during high volatility.

Now, before I add liquidity, I first do a quick rough calculation with a small script: estimate the expected range, how much fees can cover, and then decide whether to add liquidity and how much.
Anyway, I need a reminder: providing liquidity isn't "deposit and be stable," it's more like selling volatility, earning the trading friction fees from others, and the risk is really there.
Let's keep it at that for now—don't be fooled by points and curves together.