Last night I was itching again and wanted to put some idle funds into AMM to "sit back and earn trading fees," but once I looked at the curve, I calmed down... When the price deviates, the pool automatically swaps me to the losing side. No matter how attractive the fees are, I can't withstand the impermanent loss grinding back and forth. To put it simply, market making isn't about fixed-term deposits; it's about using your position as a buffer for the market.

Recently, there are rumors of increased taxes or tighter compliance in certain regions, and the expectations for deposits and withdrawals have changed. Everyone's mindset immediately tightens, volatility spikes, and impermanent loss feels like it’s on an accelerator. I almost impulsively thought about uninstalling or logging out of a certain exchange app to avoid accidentally opening leverage... But I think I should just move the liquidation line further away, open a small hedge, cool off first. Anyway, I claim to be cautious, but I still like to make a few moves with my hands.