Recently, someone’s said again, “Throw some tokens into the pool and earn transaction fees while you just lie back and wait,” and I can’t help feeling a bit tired listening to it… The AMM curve, put simply, is automatically rebalancing positions along with the price. You think you’re collecting rent, but actually you’re constantly selling what’s going up and buying back what’s going down. When the market goes berserk, impermanent loss is like a bit of “rhyme” that quietly gets deducted—no sound, but it still hurts. Over on the blockchain gaming side, once inflation + studios + a spiral in the token price get going, the pool feels even more like you’re catching flying knives, and the transaction fees may not even make up for it. Anyway, before I provide liquidity, I make sure to think it through first: do I actually want to hold these two assets long-term, and can I still sleep at night even if I lose… For now, that’s it.