Lately, I keep seeing a bunch of people chatting about “making money from market making while just lying back and relaxing.” I can’t help but want to laugh… Put simply, the AMM curve is just you falling in love with price movements: once volatility spikes, impermanent loss comes knocking. Trading fees might not even be enough to cover it. Especially when the market is ripping up hard or dumping hard—you think you’re basically collecting rent, but really your position is being passively swapped back and forth.

These past two days, the staking unlock and token unlock calendar keeps getting dug back up to scare people again. Once that anxiety about sell pressure kicks in, volatility becomes even sharper, and market making starts to feel like you’re standing on a windy cliff. Anyway, I’m in my little cabin mode right now: if I do add liquidity, I only pick tokens I’m willing to hold long-term, and with smaller positions. If I don’t make money, I’ll just treat it as tuition fees—don’t take it as a financial management strategy.