Just tried swapping tokens on the chain with a small pool, and before confirming, I tightened the slippage protection, but I still got educated by that AMM curve: as the price difference moves, the execution price slides along the curve. It’s really not “just set and forget to make money.” As an LP, it’s even more so—if the price goes up, you earn less; if it drops, you end up with a bunch of less valuable tokens. Honestly, impermanent loss is just paying for market volatility; if the fees don’t cover it, you’re just working for free.

Recently, modularization and the DA layer have been hyped up, developers are excited, but users look confused as bridges come and go… But no matter how the narrative changes, the math inside the pools remains the same: shallow liquidity makes it easy to get eaten, and high volatility means you shouldn’t expect to just relax. Anyway, I now always calculate the worst-case scenario before adding to a pool; if I can accept it, I go in. Otherwise, I’d rather be a routing party hiding behind a sandwich.