Lately, the more I think about it, the more I feel: AMM market making is really not a good thing to do just lying around collecting fees, at best it's "risk exchanging for liquidity," and sometimes it's not even worth it. The reason is simple: the curve locks you into an automatic rebalancing, and when prices move, you're forced to buy low and sell high, and the small fees you earn might not even cover the impermanent loss; with high volatility and if you haven't chosen the right range/pool, it feels like you're constantly working for the market.

What's more annoying is that recently in the group, there's talk about stablecoin regulation, reserve audits, and someone saying to de-peg... These rumors turn from one to ten, then to a hundred, and when emotions run high, people rush into the pools, and Curve immediately "automatically executes" for you. My current approach is pretty cautious: put in less, diversify, and when I see abnormal trades, I first draw a couple of charts to calm down. Anyway, don't treat market making like a deposit.