Last night I got itchy again and threw a position into the market making, only to be taught a lesson by the AMM curve… When the price drifts away, the position automatically “sells high and buys low” to correct itself. It looks like fees are coming in on the books, but impermanent loss is also quietly deducting, so it’s not just lying back and counting money. Basically, you’re working for volatility; no volatility means no fees, but with volatility, you might lose even faster.

Recently, a lot of narratives about AI agents automatically interacting and trading are pretty hot. It sounds cool, but my first reaction isn’t “sounds great,” it’s “do I dare give contract permissions?” Being able to run strategies doesn’t mean you can handle black swan events. Anyway, my current approach is: small positions to test, pull the plug and disconnect at any moment—don’t treat yourself like a robot.