The AMM curve is really not just for show... Every time someone says "market making earns fees passively," I want to throw my screenshots of my actual tests: when the price deviates, the position is automatically shifted by the curve to the side that drops even more sharply. To put it simply, you're providing liquidity to the market using a "follow the rise, not the fall" approach, and with impermanent loss, the fees might not even cover it. Especially with new L1/L2 incentives to boost TVL, the pool depth looks quite lively, but then a bunch of people mine and withdraw, causing big fluctuations, and LPs get frictioned back and forth. Anyway, I now check volatility and routing to see if it eats into depth before adding to a pool. I’d rather earn less than become a free opponent.