I just turned off the alarm clock, and before finishing my late-night snack, I went back to check the pool data... Many people always think that AMM market making = sitting back and collecting fees, but honestly they forget how that curve "automatically helps you sell high and buy low." When the market moves in a one-sided trend, your position gets squeezed to one side, and the fees may not keep up with impermanent loss, leaving you confused when you see your returns are green.

Recently, there's been talk about some regions tightening taxes and compliance, sometimes tightening, sometimes loosening, causing deposit and withdrawal expectations to shift, and the flow of funds to fluctuate accordingly. At such times, don't expect the pool to back you up. My current approach is: if I don't understand the narrative, I don't chase it; I also pick pools with less crazy volatility, try small positions, and just want to sleep peacefully... Anyway, I don't want to rely on luck to make a living.