Recently I’ve seen a lot of people rushing into Pools to do market making, saying, “Earn fees while lying down.” Hey—do they really think it’s post-sleep income? On the AMM curve, once you work out slippage it gets a headache; a single hit of impermanent loss can shrink your principal without you even realizing it. On the surface, it looks like you collect some trading fees every day, but when you look back, your principal has already been cut down and you’re totally unaware.

I once did ETH for USDC on Uniswap just for fun. Then the market moved—prices on both sides got out of sync, and my LP share shrank to the point that it actually hurt my eyes. Honestly, market making is more like competing with LPs against the forked curve; it’s not that simple.

And in the group chat they keep arguing about the compliance boundaries between privacy coins and mixers, so much that my neck’s gotten stiff from reading it. Honestly, market making also has a bit to do with privacy. For example, when coins are taken out of pools like CoinJoin, everything is clear at a glance on the account; investigators can check what you did and when on both ends of a bridge. Don’t be reckless and become an LP just to save a little on trading fees—otherwise your liquidity and escape routes will be fully exposed. Be careful: those trend-chasing arbitrage bots will teach you a lesson.

My eyes ache because I flipped through Curve’s VE governance and Crv distribution ratios all night—not really watching the charts, but my whole body is still tense. Anyway, market making isn’t really “make money while lying down” on the surface; the key is whether you’re willing to hold your nerve and do the work.