Just closed the Uniswap interface, and while I was at it I opened today’s miner revenue data—and then I saw a bunch of people cursing MEV and calling the ordering unfair. Sigh. Retail may complain, but this market-making pit really isn’t as easy as lying back and making money.

I’ve shut down the whole “easy money” mindset. I used to chase those low-quality “shitcoins” too and I got burned. Now I actually trust the AMM curve logic more—impermanent loss, put plainly, is liquidity providers taking the blame for traders; when the market moves even a bit, your assets in your account quietly shrink, and you still think you’re just earning trading fees. Anyway, I don’t dare to just toss funds in and become an LP, unless it’s some stablecoin pair, or I genuinely plan to hold long-term.

Now when I see people shouting “market making annualized 50%” every day, I just smile. Work out the costs clearly, don’t get carried away in execution, and don’t be fooled by the “sweet trap” hidden in the curve—close the app and feel refreshed.