Honestly, lately I’ve seen plenty of people rush into market-making on Uniswap V3 right away, thinking it’s risk-free arbitrage. It’s not that it’s completely impossible, but if you’re treating it like a money-saving piggy bank, then better not.

Volatility loss—plainly speaking—is that when you provide liquidity to the pool, once the token prices move, your position behaves differently from holding only one direction. The bigger the volatility and the longer the time, the more obvious the losses. Like these days, meme hype is high. Some people put SOL or Dogecoin into high-volatility pools—one pullback can wipe out most of the fees you previously earned.

What I usually do for market making is pick low-volatility stablecoin pairs, or just don’t run long-term one-sided pools. With this kind of “asymmetric risk” thing, you need to weigh it for yourself—don’t just go all-in because others are saying “sure profit.”

With the current market atmosphere, to be honest, seeing all kinds of celebrity shilling or memes going crazy, even old hands are advising newcomers not to take the last round. If it pumps, then you’re awesome; if it dumps, then it’s “belief.” Either way, I just watch the show. Market making isn’t lying down and earning—it’s game against robots, and if you lose, no one is going to write you a little essay.