Recently, I saw someone say "just throw it into the pool and sit back to collect fees," and I couldn't help but sweat for him... The AMM curve, to put it simply, is just you automatically buying low and selling high. When the price deviates, the proportion of your assets gets manipulated back and forth. When you want to withdraw, you realize: huh? Why are the coins fewer, and there's a bunch of slowly appreciating assets left—this is impermanent loss, it's not some mysterious concept.

When my on-duty cat is monitoring alerts, what I fear most isn't normal fluctuations, but sudden liquidity withdrawals or contract upgrades without announcements. Market making isn't "lazy investment." By the way, recently the community has been arguing about privacy coins, coin mixing, and compliance boundaries. I find it quite divided: one side advocates for freedom, the other fears being implicated... Anyway, my own approach is simple: don't put all your money in one pool, survive first, then talk about profits.