Recently, someone told me again, "Just put it in AMM to earn fees," and I almost mistook Gas for coffee... Curve's thing is basically you falling in love with price fluctuations: you can participate in both rises and falls, but once you deviate, you start silently losing money. Impermanent loss isn't mysticism; it's the side effect of automatically selling your position or buying high. Not to mention now with cross-chain bridges failing from time to time, oracles acting up, everyone starts "waiting for confirmation" and collectively playing dead. When liquidity tightens, slippage becomes huge, fees look good but in the end, they aren't enough to patch the holes.

My calm and steady habit is also very simple: every time I want to add to a pool, I first calculate "if the price doubles or halves, what will I be left with," and after calculating, I still want to go all in. If I start hesitating after calculating, then I just give up. Anyway, market making isn't passive income; it's like paying in installments for anxiety.